Record-breaking SLM Tyres IPO opens for general public today

June 03, 2026: Following a record-shattering institutional bidding phase, the general public subscription for Service Long March Tyres Limited’s (SLM) landmark Initial Public Offering (IPO) officially opens today.

Retail investors have a two-day window, spanning June 3 and June 4, 2026, to subscribe to the remaining 97.43m shares.

The general public offering is set at the final strike price of Rs19.95 per share, giving ordinary investors a direct stake in what has officially become the largest industrial IPO in the history of the Pakistan Stock Exchange (PSX).

The retail launch comes on the heels of an unprecedented book-building phase that stunned market observers.

Upon opening, institutional and high-net-worth individual demand fully subscribed the initial offering within just five seconds.

The bidding process ultimately witnessed a massive 16.7x oversubscription in rupee terms, generating an overwhelming Rs70bn ($250m) in total investor interest.

This ferocious demand drove the share price up by the maximum allowed 40% limit, locking the final strike price at the Rs19.95 cap against its initial floor price of Rs14.25.

Once the retail portion concludes, the total capital raised by SLM will hit a historic Rs7.77bn through the sale of 389.74m total shares.

Shahid Ali Habib, CEO of Arif Habib Limited the lead manager and book runner for the transaction hailed the milestone as a defining moment for Pakistan's capital markets.

He noted that the transaction represents the highest amount ever raised by any IPO at the PSX, reflecting deep market confidence in SLM’s business fundamentals and export potential.

Established in 2020 as a high-profile joint venture between Service Industries Limited, China’s Chaoyang Long March Tyre Company, and Myco Corporation, SLM has rapidly evolved into a manufacturing powerhouse.

Operating from a 50-acre Special Economic Zone facility in Nooriabad, Sindh, the company posted Rs49.8bn in revenue for FY2025 and currently stands as Pakistan's sole domestic manufacturer of all-steel truck and bus radial (TBR) tyres, commanding a 43% domestic market share alongside active export pipelines to the United States, Brazil, and South Africa.

The billions generated from this historic public offering are earmarked for a massive industrial expansion: a dedicated passenger car radial (PCR) tyre production facility.

With groundbreaking scheduled for this month, SLM plans to bring the new plant into commercial production by January 2028.

The facility will launch with an initial annual capacity of 2 million passenger car tyres to target the country's heavy reliance on imports, before scaling up to 2.5m units in FY2029 and hitting 3m units by FY2030.

For retail investors looking to capitalize on Pakistan's expanding export-led manufacturing sector, the next 48 hours offer the final opportunity to participate in this historic market entry.

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