In a historic development for Pakistan’s financial markets, Service Long March (SLM) Tyres Limited has delivered a record-breaking initial public offering (IPO), attracting overwhelming investor interest during its book building phase.
The IPO was oversubscribed by an extraordinary 16.7 times, with total bids reaching approximately Rs69.4 billion (around $250 million) — making it the most heavily subscribed IPO in the history of the Pakistan Stock Exchange.
This two-day book building process saw strong participation from institutional investors and high-net-worth individuals, reflecting confidence in the company’s fundamentals, export potential, and long-term growth strategy.
The company successfully achieved its maximum fundraising target of Rs7.77 billion, while also hitting the cap price, representing a 40% premium over the floor price — a rare achievement in Pakistan’s IPO landscape.
Market analysts describe this as a turning point for Pakistan’s capital markets, particularly for export-oriented manufacturing companies that offer scale, technological edge, and regional market reach.
Speaking on the milestone, Shahid Ali Habib, CEO of Arif Habib Limited, highlighted:
“This is the largest IPO transaction in PSX history, generating nearly Rs70 billion in investor interest and raising Rs7.77 billion — a clear signal of strong investor confidence.”
The IPO is also being viewed as a landmark success for Pakistan-China industrial collaboration, reinforcing confidence in export-led economic growth.
