Tyre maker plans Rs7.8bn public offer

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This photo shows tyres displayed at a local shop. — Photo courtesy: Shazia Hassan/File
This photo shows tyres displayed at a local shop. — Photo courtesy: Shazia Hassan/File

KARACHI: Service Long March Tyres Ltd (SLMTL) has announced an initial public offering at the Pakistan Stock Exchange (PSX) as the truck and bus radial tyre maker enters the passenger car radial (PCR) tyre segment.

SLMTL plans to set up a dedicated PCR manufacturing plant, with commercial operations scheduled to begin in January 2028. The facility will have an initial capacity of two million tyres per year, rising to 2.5m units in FY29 and 3m units by FY30.

The company is offering 389.738m ordinary shares — 5 per cent of its post-IPO paid-up capital — through the book-building method at a floor price of Rs14.25 per share. The price may rise by up to 40pc to Rs19.95, depending on investor demand. Of the total offer, 75pc is reserved for institutional investors through book-building, while 25pc will be offered to retail investors at the strike price.

The book-building phase is scheduled for May, during which institutional investors and high-net-worth individuals may submit bids within the announced price band.

Arif Habib Ltd (AHL) is the consultant to the issue and lead manager. The IPO is expected to raise up to Rs7.8bn, which will finance the company’s expansion into passenger car radial tyre manufacturing.

Published in Dawn, April 30th, 2026

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