Chartered Speed files DRHP with SEBI

The equity shares will be listed on the BSE and the NSE.

Sep 29, 2018 05:09 IST India Infoline News Service

Chartered Speed Ltd (CSL), which is engaged in providing passenger mobility solutions across various modes of surface transport in India with an operational fleet of over 750 passenger vehicles and over 430 Smart Bikes, has filed its draft red herring prospectus (DRHP) with SEBI.

CSL is one of the leading fleet bus operators in India for inter-city and intra-city passenger mobility operations, according to a CRISIL Report. They provide inter-city passenger mobility solutions through bus operations largely focused in Central and Western India with an expanding footprint in Northeastern India.

The Initial Public Offering (IPO) comprises equity shares of face value Rs10 each aggregating up to Rs273cr (“Offer”). The offer comprises a fresh issue aggregating up to Rs225cr (“Fresh Issue”) and an offer for sale of up to aggregating up to Rs48cr. The selling shareholders ("promoters") for an amount aggregating up to Rs24cr by Pankaj Kumar Gandhi and amount aggregating up to Rs24cr by Alka Pankaj Gandhi (“Offer For Sale”).

Equirus Capital Private Limited is the book running lead manager for the issue.

The equity shares will be listed on the BSE and the NSE.

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