The initial public offering (IPO) of Service Long March Tyres Limited has seen exceptional investor interest, with its book-building phase oversubscribed by 16.7 times. Total bids reached around PKR 69.4 billion (approximately USD 250 million) over the two-day process, marking one of the strongest showings in Pakistan’s capital market history.

Market observers called the response unprecedented for the local IPO space, highlighting robust confidence from institutional investors and high-net-worth individuals in the company’s fundamentals, export outlook, and long-term growth prospects.

The company successfully raised its full target of PKR 7.77 billion, while the final strike price settled at the upper end of the range, reflecting a 40% premium over the floor price.

The transaction now ranks among the most heavily subscribed industrial IPOs in recent years, underscoring rising investor interest in export-driven manufacturing firms with technological capability and regional reach.

Commenting on the milestone, Shahid Ali Habib, CEO of Arif Habib Limited, the lead manager and book runner for the issue, termed the response a landmark for the Pakistan Stock Exchange.

He said the IPO represents the largest transaction in PSX history in terms of investor participation, with total demand of nearly PKR 70 billion, while PKR 7.77 billion was successfully raised—also the highest amount ever mobilized through an IPO on the exchange.