SLM Tyres IPO draws record Rs69bn interest, oversubscribed 17x

May 19, 2026 (MLN): Service Long March Tyres Limited’s initial public offering (IPO) book building has witnessed historic investor participation which was oversubscribed 16.7X generating total interest of approximately PKR 69.4 billion (250 million dollars) during the two-day process, marking a remarkable milestone for Pakistan’s capital market.

The IPO received the the highest ever bids by any IPO at PSX.

The level of participation was described by market participants as unlike anything seen before in Pakistan’s IPO market, reflecting strong confidence from institutional investors and high-net-worth individuals in the company’s fundamentals, export potential and long-term growth outlook.

The IPO has already achieved its maximum fundraising target of PKR 7.77 billion. The transaction also achieved the maximum cap price, representing a 40% premium over the floor price.

The overwhelming response has positioned the transaction among the most strongly participated industrial IPOs in Pakistan’s recent capital market history.

It also highlights growing investor appetite for export-oriented manufacturing companies with scale, technology advantage, and regional market access.

Speaking on the successful transaction, Shahid Ali Habib, Chief Executive Officer of Arif Habib Limited, the lead manager and book runner for the IPO, said the response marked a historic moment for Pakistan’s capital market.

“Service Long March Tyres’ IPO is the largest transaction in the history of the Pakistan Stock Exchange, generating investor interest of approximately PKR 70 billion (250 million dollars) and raising PKR 7.77 billion, which is also the highest amount ever raised by any IPO at PSX,” he said.

The response to Service Long March Tyres’ IPO shows that Pakistan’s capital market is ready to support companies with strong fundamentals, export capability, scale, and a clear growth strategy,” he said.

The successful book building is being viewed as a landmark transaction for Pakistan China joint venture in the manufacturing sector and a strong signal of renewed investor confidence in export-led industrial listings.