New Delhi, Sept. 5 -- Chartered Speed Limited has filed its draft red herring prospectus (DRHP) with the capital market regulator, Securities and Exchange Board of India (SEBI), for an initial public offering (IPO).

The offer, which has a face value of Rs.5, consists of a fresh issue of shares totaling Rs.655 crore and an offer-for-sale of up to Rs.200 crore by promoters Pankaj Gandhi and Alka Pankaj Gandhi. The offer also features a subscription reservation for eligible employees, with a discount available for those participating in the employee reservation segment.

The funds raised from the fresh issuance of Rs.655 crore will be allocated towards investments in electric buses amounting to Rs.98 crore, the pre-payment or repayment of c...