PAN HR Solutions Limited
Bookbuilding IPO · BSE
- Price band
- ₹74 - ₹78
- Lot size
- 1,600 shares
- Issue amount
- ₹17.03 cr
- Total subscription
- 12.36×
- Opens
- 6 Feb 2026
- Closes
- 10 Feb 2026
- Allotment
- 11 Feb 2026
- Listing
- 13 Feb 2026
Offer at a glance
Issue overview
- Issue size
- 21,84,000 shares
- Face value
- ₹10 per share
- Minimum investment
- ₹1,18,400
- Fresh issue
- ₹14.04 cr
- Offer for sale
- ₹2.99 cr
- Registrar
- Maashitla Securities Private Limited
- Listing exchange
- BSE
- Maximum investment
- ₹1,24,800
- Issue type
- Bookbuilding IPO
- Shares before issue
- 54,11,058
- Shares after issue
- 72,11,058
Lot sizes
| Category | Lots | Shares | Amount |
|---|---|---|---|
| RETAIL | 2 | 3,200 | ₹2,49,600 |
| sHNI | 3 | 4,800 | ₹3,74,400 |
| bHNI | 9 | 14,400 | ₹11,23,200 |
Share reservation
Subscription & GMP
Subscription by category
Reported 10 Feb 2026
GMP history
Day-wise demand
Application-wise demand
| Category | Reserved applications | Applied applications |
|---|---|---|
| QIB | 0 | 3 |
| NIB | 0 | 647 |
| RETAIL | 198 | 1,861 |
| HNIs(10L +) | 38 | 401 |
| HNIs (2-10L) | 19 | 246 |
Subscription demand
Amounts in ₹ crore. HNI subcategories are included in the NII total.
| Category | Offered | Demand |
|---|---|---|
| QIBs | 2.81 | 18.45 |
| FIIs | 0 | 2 |
| Others | 0 | 16.45 |
| RETAIL | 4.94 | 46.45 |
| NIB | 2.13 | 57.26 |
| HNIs 2+ | 0.71 | 9.27 |
| HNIs 10+ | 1.42 | 47.99 |
Financial performance
Company financials
In Crores · Reported periods may include interim results.
Key performance indicators
| Metric | Nov-25 | Mar-25 | Mar-24 | Mar-23 |
|---|---|---|---|---|
| EPS | 9.48 | 10.17 | 8.55 | 7.89 |
| ROE | 24.64 | 31.05 | 32.12 | 45.73 |
| ROCE | 26.76 | 38.3 | 40.35 | 42.51 |
| RONW | 0 | 0 | 0 | 0 |
| PRE IPO(PE) | 0 | 8.41 | 0 | 0 |
| POST IPO(PE) | 7.31 | 0 | 0 | 0 |
Values and labels as reported in the issue data.
Peer comparison
| Company | P/E(X) | CMP* (₹) | Face value (₹) | NAV/Share (₹) | RONW(%) | EPS (Basic) (₹) |
|---|---|---|---|---|---|---|
| PAN HR Solution Limited | 8.41 | 78.00 | 10.00 | 37.01 | 27.47 | 10.17 |
| Itcons ESolutions Limited | 63.20 | 406.40 | 10.00 | 73.80 | 8.76 | 3.17 |
| Happy Square Outsourcin g Services Limited | 8.27 | 58.50 | 10.00 | 14.84 | 47.64 | 7.07 |
| Spectrum Talent Manageme nt Limited | 24.39 | 76.35 | 10.00 | 66.38 | 4.72 | 2.94 |
Company information
Company profile
Incorporated in 2015, PAN HR Solutions is a B2B company that provides complete human resource and manpower solutions for businesses. The company offers end-to-end services including recruitment, staffing, payroll management, facility management, compliance audits, and e-commerce logistics, making it a one-stop HR service provider. It caters to a wide range of roles, from unskilled to skilled blue-collar workers, and supports industries with manpower recruitment, statutory-compliant payroll services such as EPF, ESIC, and professional tax, as well as facility and support staff like housekeeping and office assistants. PAN HR Solutions also delivers staffing services for roles such as delivery personnel and conducts independent compliance audits to ensure regulatory adherence and proper record maintenance. As of November 30, 202, the company had a workforce of 10,374 employees deployed across various client locations.
Strengths
- End-to-End HR & Manpower Solutions: Operates as a one-stop B2B HR partner offering recruitment, staffing, payroll, facility management, compliance audits, and logistics staffing.
- Strong Compliance & Statutory Expertise: Proven capability in managing EPF, ESIC, professional tax, and regulatory audits, reducing legal and compliance risks for clients.
- Large Deployed Workforce Base: Workforce of over 10,000+ employees across client locations, indicating execution strength and scalability.
Risk factors
- High Dependence on Blue-Collar Workforce: Heavy focus on unskilled and semi-skilled roles may expose the company to high attrition and operational churn.
- Margin Sensitivity: HR staffing and manpower services are typically low-margin businesses, highly sensitive to wage inflation and compliance cost increases.
- Client Concentration Risk: Dependence on a limited number of large B2B clients or specific industries could impact revenues if contracts are lost or reduced.
Promoters
Rajeev Kumar
Rajni Kumari
Registrar & documents
Lead manager
Marwadi Chandarana Intermediaries Brokers Private Limited
Registrar & contacts
Maashitla Securities Private Limited
[email protected]Official registrar portal ↗IPO allotment status guide →Registered office
A - 42/03, Second floor, Sector-62, Gautam Buddha Nagar Noida, Uttar Pradesh, 201301
+91 74288 52201
[email protected]Company website ↗Understanding PANHR IPO data
Compare the price band and required investment with the company profile, financial results and offer documents. Subscription figures show reported demand by category; they do not establish the value of the business. GMP is an unofficial indication and can change before listing.