Service Long March Tyres Limited has announced an Initial Public Offering (IPO) to raise up to Rs 7.8 billion for its expansion into the passenger car radial tyre segment. The company is offering 389.738 million ordinary shares at a floor price of Rs 14.25, with the price potentially increasing based on investor interest.

The book-building phase will occur in May, targeting institutional and high-net-worth investors. The proceeds will help establish a dedicated manufacturing facility for passenger car tyres, with commercial operations targeted for January 2028.

Since its inception in 2020, SLM has gained a foothold in the commercial tyre market, and the IPO is seen as a crucial step for its growth and contribution to local industrial capacity. CEO Omar Saeed emphasized the significance of this move in enhancing local manufacturing. The offering will also allow retail investors to participate through electronic platforms.