KARACHI, April 29, 2026 — Service Long March Tyres Limited (SLM), a major Pakistani manufacturer of truck and bus radial tyres, has announced its Initial Public Offering (IPO) at the Pakistan Stock Exchange (PSX), aiming to raise up to Rs7.8 billion to finance its expansion into the passenger car radial (PCR) tyre segment.
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According to the company, the IPO involves the offering of 389.738 million ordinary shares, representing 5% of its post-IPO paid-up capital. The floor price has been set at Rs14.25 per share, with the possibility of rising up to Rs19.95 depending on investor demand during the book-building process.
Of the total offering, 75% will be allocated to institutional investors and high-net-worth individuals through book-building, while 25% will be offered to retail investors at the final strike price determined by demand.
The book-building phase is scheduled for May 2026, during which qualified investors will submit bids within the price band. Following this, the retail subscription will open via PSX’s e-IPO system and the CDC’s centralized platform.
SLM plans to use the IPO proceeds to establish a dedicated PCR tyre manufacturing facility. The project is expected to begin commercial operations in January 2028 with an initial annual capacity of 2 million tyres, expanding to 2.5 million units by FY2029 and 3 million units by FY2030.
Company officials stated that the expansion aims to reduce Pakistan’s reliance on imported passenger vehicle tyres and strengthen domestic industrial capacity. SLM currently operates a manufacturing plant in SITE Nooriabad, Sindh, developed on approximately 50 acres of Special Economic Zone land.
Established in 2020 as a joint venture between Service Industries Limited, China’s Chaoyang Long March Tyre Company, and Myco Corporation Pakistan, SLM began operations in 2022 and has since grown into a key player in Pakistan’s commercial tyre market, also exporting to international markets including the United States and Brazil.
Chief Executive Officer Omar Saeed described the IPO as a “pivotal step” in the company’s growth strategy, noting that SLM aims to expand its footprint from commercial tyres into the passenger vehicle segment while strengthening exports.
Arif Habib Limited is acting as Consultant to the Issue and Lead Manager. Analysts say the IPO reflects renewed investor interest in Pakistan’s manufacturing and export-oriented sectors.
