Service Long March Tyres Limited, Pakistan’s truck and bus radial tyre (TBR) manufacturer and exporter, is currently valued at around $550 million based on its upcoming IPO price range, said CEO Omar Saeed while briefing the investors at a pre-IPO road show in Karachi
According to a statement, Saeed shared that the management is targeting to transform into a $1 billion company within the next two years through expansion, exports, and capacity enhancement initiatives.
According to the offering details shared during the session, the IPO will be offered at a price band ranging between Rs14.25 and Rs19.95 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 Rs5.5- 7.8 billion, representing 5% of the company’s post-issue capital.
SECP approves IPO of Service Long March Tyres
The IPO is being managed by Arif Habib Limited (AHL).
SLM is an all-steel radial truck and bus (TBR) Tyre manufacturing company in Pakistan, established through a JV between Servis Group and Chaoyang Long March of China.
Service Industries Limited and its subsidiary, Service Global Footwear Limited, hold 32.09% and 18.91% equity stakes in SLM, respectively.
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 company seeks to expand its production capacity by nearly 25%.
In addition to capacity expansion, SLM Tyres is also installing a 7.5MW wind turbine project aimed at reducing energy costs and improving operational efficiency.
Commenting during the roadshow, Saeed said the offering represents more than just a capital market transaction.
“We believe Pakistan’s tyre sector is entering a transformative phase driven by industrial growth, infrastructure expansion, and export potential.
“While this IPO values the company at around $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.
