KARACHI: Service Long March Tyres Limited (SLM Tyres), Pakistan’s first and largest truck and bus radial (TBR) tyre manufacturer and exporter, has unveiled ambitious expansion plans aimed at making Pakistan self-sufficient in truck and car tyre production while positioning itself as a major player in the country’s manufacturing and export sector.
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The company shared details of its upcoming Initial Public Offering (IPO) during a high-profile pre-IPO roadshow held in Karachi, attended by investors, brokerage houses, capital market participants, and senior management officials.
Speaking at the event, Omar Saeed, Chief Executive Officer of SLM Tyres, said the company is currently valued at approximately USD 550 million based on the IPO pricing range, with a strategic goal of transforming into a USD 1 billion company within the next two years.
He said the company’s future growth strategy would focus on expansion, exports, localisation, technology transfer, and enhanced manufacturing capacity.
“We believe Pakistan’s tyre sector is entering a transformative phase driven by industrial growth, infrastructure expansion, and export potential,” Omar Saeed said. “Service Long March Tyres is strategically positioned to lead this transformation and help Pakistan move toward self-sufficiency in tyre manufacturing.”
The IPO will be offered within a price band ranging from PKR 14.25 to PKR 19.95 per share. According to the company, investor registration will take place from May 13 to May 15, 2026, while the book-building process is scheduled for May 18 and 19.
The total offering size is expected to range between PKR 5.5 billion and PKR 7.8 billion, representing 5 percent of the company’s post-issue capital. The IPO is being managed by Arif Habib Limited.
SLM Tyres currently commands an estimated 59 percent market share in Pakistan’s truck and bus radial tyre segment and operates an extensive nationwide distribution network with over 100 dealers and distributors across more than 30 cities.
During the roadshow, company officials revealed that annual tyre production capacity currently stands at approximately 1.6 million tyres and is expected to increase to 2 million tyres by July 2026. The expansion project is projected to add nearly 25 percent additional production capacity.
The company also announced the installation of a 7.5-megawatt wind turbine project aimed at reducing energy costs and improving operational efficiency through renewable energy solutions.
Management highlighted that rising domestic demand, import substitution opportunities, and increasing export potential are expected to support strong long-term earnings growth.
SLM Tyres further emphasized the importance of its strategic joint venture partnership with a leading Chinese tyre manufacturer, which has enabled technology transfer and strengthened Pakistan’s local manufacturing capabilities.
According to Omar Saeed, the IPO represents more than a fundraising initiative and reflects a broader vision to establish Pakistan’s largest globally competitive tyre manufacturing platform.
He added that the project could also encourage future joint ventures between Pakistani and Chinese companies and support greater industrial participation on the Pakistan Stock Exchange (PSX).
Industry analysts believe the IPO could attract strong interest from institutional and retail investors due to the company’s expanding production capacity, growing export opportunities, increasing localisation, and consistent dividend outlook.
