Even as its monthly run-rate is getting back to pre-pandemic levels amid rising demand for electric vehicles (EVs), Ahmedabad-based intercity and intracity mobility solutions provider Chartered Speed is planning an initial public offering (IPO) of over Rs 600 crore.
The company plans to raise money to back its bus fleet and city footprint expansion plans. From the current 1000-odd fleet of buses, of which roughly five per cent are EVs, Chartered Speed is looking to add another 1,000-1,200 buses in the next one to one and a half years.
Moreover, buoyed by the growing opportunities in electrification of mobility solutions, the company is looking to take up the share of EV buses in its fleet to 50 per cent, said Sanyam Gandhi, whole-time director of Chartered Speed Limited.
