Last updated on January 3rd, 2026 at 11:14 am
Chartered Speed Limited is a passenger-mobility company that operates inter-city and intra-city buses using a largely self-owned fleet.
It provides affordable, scheduled transport services across six Indian states, serving around 3.5 lakh passengers daily.
Chartered Speed has filed DRHP to raise ₹ 855 Crore comprising completely as Fresh issue of ₹ 655 Crore & Offer-for-sale (OFS) of ₹ 200 Crore by promoters.
Subscription date to apply for Chartered Speed Limited is yet to be announced.
Price band for the IPO is also pending to be declared.
| Issue Size: | ₹ 855 Crore |
| Fresh Issue: | ₹ 655 Crore |
| Offer for Sale: | ₹ 200 Crore |
| Price Range: | TBA |
| Lot Size: | TBA |
Chartered Speed important data points:
Revenue, PAT, EBITDA
| Year | Fiscal 2025 |
| Networth | ₹ 66.9 Cr |
| Revenue: | ₹ 666.8 Cr |
| EBITDA | ₹ 210.8 Cr |
| PAT | ₹ 70.1 Cr |
| EBITDA Margin: | ~31.62% |
| PAT Margin | ~10.51% |
| Face Value: | ₹ 05 per Eq. Share |
IPO important dates
| Open Date: | TBA |
| Close Date: | TBA |
| Anchor Investor Bidding | TBA |
| Allotment Date: | TBA |
| Refunds & Demat Credit | TBA |
| Tentative Listing Date: | TBA |
Use of Proceeds
| Purpose | Amount |
| Borrowing payment | ₹ 396.47 Cr |
| Purchasing Electric Buses | ₹ 98 Cr |
| General Corporate Purpose | Balance |
| Technology & Infrastructure | Nill |
Chartered Speed Limited Promoters – Pre offer equity (Approx)
| Pankaj Gandhi | ~58.07% |
| Alka Pankaj Gandhi | ~38.58% |
Chartered Speed Financial Data
| 2023 | 2024 | 2025 | |
| Revenue (₹ Cr) | ₹ 332.1 | ₹ 347.3 | ₹ 666.8 |
| Profit (₹ Cr) | ₹ -8.3 | ₹ -5.5 | ₹ 70.1 |
| Asset (₹ Cr) | ₹ 187.3 | ₹ 548.8 | ₹ 727.0 |
| Net Worth (₹ Cr) | ₹ -20.2 | ₹ -14.5 | ₹ 66.9 |
Chartered Speed IPO Grey Market Premium
| Date | IPO Price | IPO GMP | Profit per lot |
| 22-Dec | ₹ – | ₹ – | ₹ – |
| 21-Dec | ₹ – | ₹ – | ₹ – |
| 20-Dec | ₹ – | ₹ – | ₹ – |
| 19-Dec | ₹ – | ₹ – | ₹ – |
| 18-Dec | ₹ – | ₹ – | ₹ – |
Chartered Speed Limited IPO Pros & Cons
Strengths:
- Strong financial turnaround with sharp revenue and profit growth recently.
- Large fleet of 2,000+ bus serving 3.5 lakh passengers daily gives strong scale advantage.
- Diversified B2G, B2B and B2C revenue model ensures stable cash flows.
- IPO funds to expand electric-bus fleet and reduce debt strengthen future growth.
- Early-mover advantage in organised mobility services with rising demand across India.
Risks:
- Heavy dependence on government/institutional contracts increases policy and renewal risk.
- High leverage of the company having substantial debt (₹ ~552.5 crore), making interest burden a concern.
- Business concentrated in a few states limits geographical diversification.
- Bus-transport sector is fragmented and competitive, regulatory, fuel-cost and operational-cost pressure remain real challenge.
- Key IPO details like price band and listing timeline remain undisclosed, creating entry uncertainty.
Chartered Speed Limited Lot Size details
| Application Type | Lot Size | No. of Lots | No. of Shares | Investment Amount |
| Retail(Min) | – | 1 | – | ₹ – |
| Retail (Max) | – | 13 | – | ₹ – |
| Small HNI (Min) | – | 14 | – | ₹ – |
| Small HNI (Max) | – | 66 | – | ₹ – |
| Big HNI (Min) | – | 67 | – | ₹ – |
Core Offerings of Chartered Speed Limited
It runs a large fleet of buses as inter-city, intra-city, school/staff transport, public-transport (BRTS) and bus-rental services – covering six states.
It operates over 2,000 buses across ~500 cities and serves about 3.5 lakh passengers daily.
Lead Managers / Registrars of Chartered Speed Limited
| Lead / Book Running Lead Managers | Motilal Oswal Investment Advisors Ltd., SBI Capital Markets Ltd. |
| Registrar (RTA) | MUFG Intime India Pvt Ltd |
Founding Year of Chartered Speed Limited & Managing Director
It was incorporated in 2007 (as a private company) and became a public company in 2018.
Mr. Pankaj Gandhi is Chairman & Managing Director of the company.
Chartered Speed Limited FAQ
- Q1. What is the business of Chartered Speed Limited?
Last updated on January 3rd, 2026 at 11:14 am
Chartered Speed runs a large self-owned bus fleet (~ 2,000+ buses) offering inter-city, intra-city, school, staff and shuttle transport across ~500 cities in India, carrying ~3.5 lakh passengers daily. - Q2. Why is the company raising funds via IPO?
Last updated on January 3rd, 2026 at 11:14 am
Chartered is raising funds to buy electric buses, repay a large part of its debt and fund general corporate purposes – supporting expansion and financial strengthening. - Q3. What is the size of the issue and where will it list?
Last updated on January 3rd, 2026 at 11:14 am
The issue size is approx ₹ 855 crore, and it will be listed on the NSE & BSE platform. - Q4. What are the risks to an investor?
Last updated on January 3rd, 2026 at 11:14 am
Risks to investing in IPO includes dependence on long-term government and institutional contracts (annuity model) means revenues may be vulnerable to contract renewals and operational cost volatility pose additional risks. - Q5. What are the potential upsides?
Last updated on January 3rd, 2026 at 11:14 am
Positive side to invest include increasing revenue, which has more than doubled in two years and FY25 saw ₹70 crore profit; fleet expansion including electric buses plus wide 500-city network offers growth potential as organized mobility demand rises. - Q6. How to apply for the IPO?
Last updated on January 3rd, 2026 at 11:14 am
You can apply for the IPO via your brokerage/demat account when the IPO opens and follow IPO subscription steps (UAN, ASBA, etc). - Q 7. When is the tentative listing date?
Last updated on January 3rd, 2026 at 11:14 am
Expected listing date is yet to be announced.
For more amazing blogs click here (IPO Corner).
