Service Long March Tyres to raise capital through IPO and seek PSX listing

Service Long March Tyres (Private) Limited (SLM), a subsidiary of Service Industries Limited, has announced its plans to raise capital via an Initial Public Offering (IPO) and seek a listing on the Pakistan Stock Exchange (PSX).

Service Industries shared this development with the PSX on Friday in accordance with the requirements of the Rule Book of PSX. 

“Service Long March Tyres (Private) Limited (SLM), a subsidiary / associated company of Service Industries Limited (the ‘Company’), has decided to raise capital through Initial Public Offering (‘IPO’) and, accordingly, to seek listing on the Pakistan Stock Exchange Limited,” read the notification. 

The company’s management stated that they will keep the PSX informed about further developments regarding the IPO process and listing. 

SLM’s decision to raise funds through the public offering signals an important step towards enhancing its capital base, and it will now seek the approval of the PSX for the listing process.

In July 2025, Service Industries announced the sale of 8,683,920 shares of its subsidiary, Service Global Footwear Limited (SGFL), through an off-market transaction which generally means that it was not done through the normal stock exchange trading system but in a private arrangement.

This move was necessary for Service Industries to align its corporate structure with the regulations set by the PSX. However, the company had not disclosed specific details about the buyer(s).

Service Industries Limited was incorporated as a private limited company on March 20, 1957 in Pakistan under the Companies Act, 1913 (now the Companies Act, 2017).The principal activities of the company are purchase, manufacture and sale of footwear, tyres and tubes and technical rubber products.