Mian Tyre and Rubber Company Limited (formerly Panther Tyres Limited) was established in 1983 as a

tyre and tube producer. On October 24, 1983, the Company was incorporated as a private limited
company under the Companies Act 1913 (now abolished), and on October 10, 2003, it was converted to a
public limited company under the Companies Ordinance 1984 now known as Companies Act, 2017.On
October 25, 2011, the company renamed itself Panther Tyres Limited from Mian Tyre and Rubber
Company Limited. The production plant of the company is located on Sheikhupura Road, 29.5 kilometres
distant, and covers an area of 168.6 kanals (freehold land). In the tyre and tube market, the company has
developed to become one of Pakistan's top players. In April of 2018, the Company began trading
automotive fluids and motorcycle replacement parts in addition to its principal activity. Motorcycle
engine oil, as well as diesel engine oil for tractors, large transport vehicles, lifters, and generators, is sold
by the company.

SPONSORS OF PANTHER TYRES LIMITED

Panther Tyres is a family-owned and operated company. The Company's sponsors include:

1. Mian Iftikhar Ahmed

2. Mian Faisal Iftikhar

3. Samina Iftikhar

ABOUT THE ISSUE

The issue includes 40,000,000 Ordinary shares with a face value of PKR 10/- each. Panther Tyres Limited
is issuing 30,000,000 (i.e. 21.42 percent of Panther Tyres Limited's total post-IPO paid up capital)
ordinary shares, while Mian Iftikhar Ahmed, the company's sponsor, is offering 10,000,000 (i.e. 7.14
percent of Panther Tyres Limited's total post-IPO paid up capital) ordinary shares from his current
shareholding. The Total 40,000,000 Ordinary Shares will be offered through the Book Building method at
a Floor Price of PKR 47.00/- per share with a price band of 40% above the floor price, i.e. Rs. 65.8.
Bidders may put bids for one hundred percent (100%) of the Issue size, and the Strike Price is the price at
which one hundred percent (100%) of the Issue is subscribed. However, if they get successful only
seventy-five percent (75%) of the Issue size, i.e. 30,000,000 shares, with the remaining twenty-five
percent (25%) i.e. 10,000,000 shares being offered to retail investors.

PRINCIPAL PURPOSE OF THE ISSUE

The new issuance will be used to fund the Company's expansion initiative. The purpose of the extension
project is to enhance the production capacity of Tyre Sets and Tubes (Packed). Cutting-edge machinery
is being brought in to help with this development. In all sections of Tyre Sets and Tubes, the Company
has reached its full operational capacity throughout time (Packed). In the tyre segment, the company is
at 82.6% capacity, and in the tube segment, it is at more than 92% capacity. With each passing year, the
demand for tyres and tubes grows. The Company has made the following choice in order to meet future
demand for tyres and tubes in both the domestic and international markets expansion of project is most
important thing because this will not only to enhance Tyre Sets and Tubes (Packed) production capacity,
but also to introduce modern tyre manufacturing technology.

Panther Tyres plans to import Comerio Ercole's latest and most advanced 4 Roll Calender Line (Italy).
With that they will be able to produce good quality products with high product thickness accuracy also
minimizing the wastages with the introduction of this latest Calender Line in the Company's Calendering
department for production of radial tyres. As a result, if the company wishes to produce radial tyres in
the future, it will not require the installation of a new calender line. Panther Tyres also plans to bring in a
Farrel Limited fully automated Banbury Mixer (UK). Looking at tyre industry mixing is the initial step and
most critical component of rubber processing. The mixing operation produces a product with evenly
disseminated and distributed ingredients, which is then processed in succeeding phases to cure
efficiently and offer the appropriate attributes for the end application. As these fully automated Banbury
Tangential Mixer in the Company’s mixing department will definitely improves the efficiency and will
reduce material wastages.

The Table 1 shows that the Company’s production capacity of Tyre Sets will increase from 8.1 million to
9.8 million, Tubes (Packed) from 31.2 million to 42 million. Apart from this, calendaring capacity of the
Company will also increase from 9 million units to 20 million units per annum. The expansion investment
will also raise the capacity of mixing department by 60%.

Table 1
Units in “000” Current Capacity Post Expansion Capacity % Increase
Tyre Sets 8,100 9,800 21.0%
Tubes (Packed) 31,200 42,000 34,6%
Mixing Department (“000” Kgs) 45,000 72,000 60%
Calender 9,000 20,000 122.2%

Financial Performance
Board of Directors:
Mian Iftikhar Ahmed: Mian Iftikhar Ahmed is the founder and former Chief Executive of
the Company. Currently he is holding the position of Chairman of the Board of Directors.

Mian Faisal Iftikhar: He joined the Company in 1999. Currently, He is an Executive

Director and heading the Company as a Chief Executive Officer.

Zahid Mehmud: Mr. Zahid has been associated with the tyre & tube manufacturing industry
of Pakistan since 2007 and currently, serving as an Executive Director in Panther Tyres.
Samina Iftikhar: Samina Iftikhar is associated with the Company as a Non-Executive
Director since 2012. She serves to the Human Resource side of the Company and she believes in
continuous training and development of human resource in order to make them aligned with
changing business environment. 

Javed Masud: Mr. Javed is the independent director of the Company. Before, He was the
founding Chief Executive of Pakistan Credit Rating Agency Limited (PACRA), the first
organization of its kind in the country. 

Asad Sultan Chaudhry: Mr. Asad Sultan Chaudhary is associated with the Company as an
independent director. He holds an MBA degree from the Institute of Business Administration,
Karachi, with a major in Marketing.

Iqbal Ahmed Khan: Mr. Iqbal Ahmad Khan, is associated with the Company as an
Independent Director. He joined Foreign Service in 1971 and served there for 35 years in various
capacities, also Currently, he is an adjunct professor at the Lahore University of Management
Sciences (LUMS), where he teaches international affairs.

Marketing Strategy:
Panther Tyres is the leader and innovator in Motorcycle and Rickshaw tyre categories. The Company’s
marketing side is mainly focused on creating top of mind recall through cost effective and impactful
marketing campaigns through electronic media advertisement (News, Entertainment, Sports channels
and Radio), social media and other mass mediums through product based advertisement.

Moreover, Panther Tyres is investing in their logistics channels to make them better which includes
distributors, wholesalers, retailers and influencers like vulcanizers for maximum brand endorsement and
acceptance at community through information sessions and other engagement programs for product
trial and brand loyalty. The Company is focusing on in shop branding and promotions at national level to
persue the high brand visibility and increased good brand image.

Panther Tyres has maintained a long standing relationship with key OEMs in Pakistan wherein the
company has been supplying Tyres and tubes to Suzuki, Honda and Yamaha for more than 26 years. The
Company derives 25% of its total sales from supplies to OEMs

Panther Tyres current and future marketing strategies are aimed at gaining high market share and mind
share through ATL and BTL activities so that it becomes the brand of choice among our diverse customer
base.