Service Industries subsidiary plans new company to expand tyre business

Service Industries Limited has announced plans to establish a new wholly owned subsidiary as part of the expansion of its tyre operations, according to a disclosure submitted to the Pakistan Stock Exchange on Friday. 

The company said Service Tyres (Private) Limited, its wholly owned subsidiary, intends to incorporate Service Tyres International (Private) Limited.

“Service Tyres (Private) Limited (“STPL”), a wholly owned subsidiary of SIL, intends to incorporate a wholly owned subsidiary under the name “Service Tyres International (Private) Limited” for expansion of tyre business,” read the notice. 

The proposed company will be wholly owned by Service Tyres (Private) Limited. 

Service Industries did not disclose the planned investment, capital structure, scope of operations or expected incorporation date, saying further details would be shared with the PSX in due course.

The announcement follows the June 2026 initial public offering of Service Long March Tyres Limited, whose public portion received applications for 739.17 million shares against an initial allocation of 97.43 million shares, oversubscribing it 7.59 times. The strong demand prompted an increase in the public allocation from 25% to 30%, or 116.92 million shares, while applications still exceeded the revised allocation by about 6.32 times.