Chartered Speed plans ₹855 crore IPO
Chartered Speed, one of India's major bus operators, is planning to raise ₹855 crore through an IPO—₹655 crore as new shares and ₹200 crore via shares sold by its founders.
The money will help them buy more electric busses, pay off debts, and cover other business needs.
The company moves about 3.5 lakh people every day
With over 2,000 busses running across 500 cities in six states, Chartered Speed moves about 3.5 lakh people every day.
They focus on inter-city routes in places like Gujarat and Assam and run city services mainly in Gujarat and Madhya Pradesh.
Most of their busses are company-owned for better control.
Chartered Speed's revenue nearly doubled in 2 years
Chartered Speed has seen its revenue nearly double in two years—jumping from ₹332 crore in FY23 to ₹666.7 crore in FY25.
Profits have also taken a U-turn: from an ₹8.3 crore loss in FY23 to a solid ₹70 crore profit this year.