Service Long March Tyres Limited has set a new benchmark in Pakistan’s capital markets after its initial public offering (IPO) recorded unprecedented demand during the book building phase.
The IPO was oversubscribed 16.7 times, generating investor bids worth approximately Rs69.4 billion, making it the largest subscription response ever witnessed at the Pakistan Stock Exchange.
The offering successfully raised Rs7.77 billion, achieving the upper cap price — a 40% premium over the base floor price — signaling strong pricing power and investor confidence.
The participation was dominated by institutional investors and high-net-worth individuals, indicating a shift in market sentiment toward fundamentally strong, export-driven industrial ventures.
According to Shahid Ali Habib, CEO of Arif Habib Limited:
“The response demonstrates that Pakistan’s capital market is ready to support scalable, export-oriented companies with a clear growth trajectory.”
The IPO also reflects strengthening investor confidence in Pakistan-China joint ventures, particularly in manufacturing sectors that leverage technology, scale, and regional integration.
Experts believe this transaction could pave the way for more industrial listings, improving depth and diversity within Pakistan’s equity markets.
