Chartered Speed

Chartered Speed submits draft papers with Sebi for ₹855 crore IPO

Chartered Speed Ltd has filed preliminary papers with markets regulator Sebi to raise Rs 855 crore through an initial public offering (IPO). The proposed IPO comprises a fresh equity raise of Rs 655 crore and an offer-for-sale of shares worth Rs 200 crore by promoters Pankaj Gandhi and Alka Pankaj Gandhi, according to the draft red herring prospectus (DRHP) filed on Thursday. From the fresh issue, Rs 97 crore will be used to invest in electric buses, Rs 396.4 crore will be utilised for debt payment, and the balance will be allocated for general corporate purposes. The company may also consider a pre-IPO placement of up to Rs 131 crore, in which the size of the fresh issue will be reduced accordingly. Ahmedabad-based Chartered Speed, incorporated in 2007 and converted into a public company in 2018, is among India's leading passenger mobility firms. As of June 30, 2025, it operated a fleet of over 2,000 buses across 500 cities, serving about 3.5 lakh passengers daily. Its inter-cit

US hires chartered flight to send back Indians staying in country illegally

The United States hired a chartered flight to send back Indian nationals who stayed in the US illegally, the Department of Homeland Security said on Friday, noting that this has been done in cooperation with the Indian government. Indian nationals without a legal basis to remain in the United States are subject to swift removal, and intending migrants should not fall for the lies of smugglers who proclaim otherwise, said a senior official performing the duties of Deputy Secretary of Homeland Security Kristie A. Canegallo. The charter flight was sent to India on October 22. The statement said DHS continues to enforce US immigration laws and deliver tough consequences for those who enter unlawfully by swiftly returning those without a legal basis to remain in the United States while encouraging the use of lawful pathways. Since June 2024, when the Securing the Border Presidential Proclamation and accompanying Interim Final Rule went into effect, encounters between ports of entry alon

Mobility firm Chartered Speed plans Rs 600 cr IPO for fleet, EV expansion

From the current 1000-odd fleet of buses, of which roughly 5% are EVs, the firm is looking to add another 1,000-1,200 buses in the next one to one and a half years

Fleet bus operator Chartered Speed gets Sebi's nod for Rs 273 crore IPO

Chartered speed Ltd is engaged in the business of providing passenger mobility solutions across various modes of surface transport in India

Fleet bus operator Chartered Speed files for Rs 2.7 bn IPO with Sebi

The IPO comprises fresh issuance of equity shares worth up to Rs 2.25 billion, besides, an offer of sale of around Rs 480 million