Service Long March Tyres Limited (SLM Tyres), Pakistan’s first and largest truck and bus radial (TBR) tyre manufacturer and exporter, shared key details of its upcoming Initial Public Offering (IPO) during a roadshow held in Karachi, positioning the company as a major investment opportunity linked to Pakistan’s growing manufacturing and export economy.
Based on the IPO pricing range, the company is currently being evaluated at approximately USD 550 million, with the management targeting to transform SLM Tyres into a USD 1 billion company within the next two years through expansion, exports, and capacity enhancement initiatives said Omar Saeed, CEO of Service LongMarch Tyres Limited while briefing the investors at a pre-IPO road show in karachi.
Backed by its market leadership, nationwide footprint, strategic China joint venture partnership, and expansion-driven growth strategy, the company aims to further strengthen its position in Pakistan’s tyre industry through the IPO process scheduled later this month. Senior management, investors, brokerage houses, and capital market participants attended the roadshow where the company outlined its future expansion plans, market outlook, and long-term growth strategy.
According to the offering details shared during the session, the IPO will be offered at a price band ranging between PKR 14.25 and PKR 19.95 per share.
The registration period for investors will run from May 13 to May 15, 2026, while the book building process is scheduled for May 18 and 19, 2026. The 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 has emerged as a key player in Pakistan’s automotive and industrial manufacturing landscape, operating with a strong nationwide network comprising more than 100 dealers and distributors across over 30 cities. The company currently commands an estimated 59 percent market share in Pakistan’s truck and bus radial tyre segment, with expectations to expand further following planned capacity enhancement initiatives.
During the roadshow, the company also highlighted that its annual production capacity currently stands at approximately 1.6 million tyres and is scheduled to increase to 2 million tyres by July 2026. The expansion is expected to provide nearly 25 percent additional production capacity, offering immediate growth potential to incoming investors following the IPO.
In addition to capacity expansion, SLM Tyres is also installing a 7.5 MW wind turbine project aimed at reducing energy costs and improving operational efficiency. The renewable energy initiative is expected to strengthen long-term margins and support sustainable manufacturing operations amid rising industrial energy costs in Pakistan.
The company projects a strong earnings growth outlook, supported by rising domestic demand, import substitution potential, and increasing export opportunities. Industry estimates cited by the company indicate a significant supply gap in Pakistan’s tyre market.
SLM Tyres also highlighted its strategic joint venture partnership with a leading Chinese tyre manufacturer, enabling technology transfer and strengthening local manufacturing capabilities in Pakistan.
Commenting during the roadshow, Omar Saeed said the offering represents more than just a capital market transaction, describing it as a long-term commitment towards building Pakistan’s largest globally competitive tyre manufacturing platform and leading way forward for setting up JVs with Chinese’s companies in Pakistan and get listed on PSX.
“We believe Pakistan’s tyre sector is entering a transformative phase driven by industrial growth, infrastructure expansion, and export potential. Service Long March Tyres is strategically positioned to lead this transformation. While this IPO values the company at around USD 550 million, our vision is to build Pakistan’s first billion-dollar tyre manufacturing company within the next two years through scale expansion, technology, exports, and product diversification,” he said.
With consistent dividend payouts, an expanding dealer network, increasing localisation, and growing export potential, the IPO is expected to attract strong interest from institutional and retail investors seeking exposure to Pakistan’s manufacturing and industrial growth story.
