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Home Sector Industrial

Panther Tyres successfully raises Rs2.632bn through book building

13 June 2023
in Industrial
Reading Time: 1 min read
0

Panther Tyres Limited attracted more than Rs 2.632 billion in book building, making it the largest book building event in the world.

The application form was received four and a half times oversubscribed, with the price closing at Rs 60.80 per share; an improvement of 40 percent from the floor price of Rs 47.0 per share. The overall demand is Rs 8.215 billion and the issue size is Rs 1.880 billion; the issue is over subscribed by a little over Rs 6.335 million. This company has the position of lead manager and book runner in an IPO.

A Pakistani company, founded in 1983, by Mian Iftikhar Ahmed, was the first to manufacture tyres locally in Pakistan.

Source: Business Recorder

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