Pan HR Solution was incorporated on December 23, 2015. The company provides PAN-India B2B manpower, staffing, payroll, facility management, and compliance services across e-commerce, logistics, manufacturing, and information technology sectors, deploying over 10,000 personnel
| Bidding Dates |
|---|
| 06 Feb 2026 - 10 Feb 2026 |
| Subscription |
|---|
| 9.51x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹2,36,800 | 2 | 2 | 1600 | 2.2 M | ₹74 - ₹78 | 62.9 % | ₹161.6 M - ₹170.4 M | RHP DOC |
PAN HR Solution IPO SUBSCRIPTION STATUS
10 Feb '26PAN HR Solution IPO overall subscription rate was 9.51 times the total available shares
PAN HR Solution IPO retail subscription rate was 10.33 times in the retail segment
PAN HR Solution IPO non-institutional investor subscription rate was 29.72 times in the non-institutional investor category
PAN HR Solution IPO Qualified Institutional Bidder subscription rate was 2.87 times the available shares for Qualified Institutional Bidder
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 35% | 15% | 50% |
10 Feb 2026 (Day 3) | 10.33x | 29.72x | 2.87x |
09 Feb 2026 (Day 2) | 0.79x | 2.16x | 1.54x |
06 Feb 2026 (Day 1) | 0.12x | 0.02x | 1.54x |
PAN HR Solution FINANCIALS
| Period | Revenue from Operations (Rs in crore) | Net Profit (Rs in crore) | Cash Flow from Operations (Rs in crore) | Free Cash Flow (Rs in crore) | Margins |
| 8MFY26 | 154.0 | 5.1 | -0.1 | -273.4 | 4.1% |
| FY25 | 283.2 | 5.0 | 0.8 | -33.8 | 2.4% |
| FY24 | 281.1 | 4.2 | 6.8 | -42.5 | 1.9% |
| FY23 | 256.1 | 3.9 | 2.0 | -46.2 | 2.1% |
PAN HR Solution IPO SUBSCRIPTION STATUS DETAILS
PAN HR Solution had 2.2 M shares on offer
PAN HR Solution IPO offer price was in the range ₹74 - ₹78
PAN HR Solution IPO minimum Investment was ₹236800
PAN HR Solution IPO issue size was ₹ 161.6 M - ₹ 170.4 M
PAN HR Solution had a minimum lot size of 1600 Shares per application
PAN HR Solution NUMBER OF SHARES ON OFFER
PAN HR Solution IPO IMPORTANT DATES
| Issue Open Date | 06 Feb 2026 |
| Issue close Date | 10 Feb 2026 |
| Allotment Date | 11 Feb 2026 |
| Refund Date | 12 Feb 2026 |
| Demat Account Credit Date | 12 Feb 2026 |
| Listing Date | 13 Feb 2026 |
| Listing on Exchange(s) | BSE |
| PAN HR Solution Allotment Status | Exchange/ Registrar |
PAN HR Solution IPO subscription opened on 06 Feb 2026, and closed on 10 Feb 2026
IPO allotment for PAN HR Solution was finalized on Wednesday, 11 Feb 2026
IPO listing for PAN HR Solution was on BSE on Friday, 13 Feb 2026
PAN HR Solution IPO LISTING GAINS
| Issue Price (adjusted) | 78.0 |
| Listing Open Price | 78.3 |
| Listing Close Price | 78.0 |
| Listing Gain% | 0.5% |
| Current Gain% | -24.4% |
PAN HR Solution Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| PAN HR Solution Ltd. | 59 | 42.5 | 5.7 | 0.1 | 0.2 | 20 | 12.6 | 235.3 | -17.1 | 7.5 | 49.6 | 10.4 | 49.6 |
| Sagility Ltd. | 43.7 | 20443.4 | 20.6 | 0.4 | 2.7 | 9.6 | 7.3 | 7290.8 | 29.6 | 924.8 | 71.5 | 2.1 | 49.2 |
| International Gemological Institute Ltd. | 355.8 | 15376.2 | 25.2 | 1 | 11.3 | 47.8 | 38.3 | 1661.9 | 52.7 | 711.2 | 66.4 | 14.1 | 24.3 |
| Indiabulls Ltd. | 29.4 | 6855.8 | 16.4 | 0 | 6.2 | 8.9 | 6.6 | 880.8 | 172602 | 273.9 | 501.6 | 1.8 | 739.2 |
| SIS Ltd. | 435 | 6146.2 | 41.9 | 0.2 | 0.4 | 5.4 | 1.8 | 16030.1 | 20.9 | 137.8 | 1069.1 | 10.4 | 261.6 |
| eMudhra Ltd. | 538.8 | 4462.3 | 38.8 | 1.5 | 6 | 11.8 | 8.9 | 713.2 | 35.1 | 107.8 | 27.4 | 13.9 | 25.5 |
PAN HR Solution INFORMATION ON IPO ISSUE
About PAN HR Solution
Pan HR Solution was incorporated on December 23, 2015. The company provides PAN-India B2B manpower, staffing, payroll, facility management, and compliance services across e-commerce, logistics, manufacturing, and information technology sectors, deploying over 10,000 personnel
Object of the Issue
- Funding working capital requirements of the company
- General corporate purposes
PAN HR Solution - PROMOTERS
| Name |
|---|
| Rajeev Kumar |
| Rajeev Kumar |
PAN HR Solution - MANAGEMENT & LEADERSHIP
| Name | Designation |
|---|---|
| Rajeev Kumar | Chairman & Managing Director |
| Rajeev Kumar | Whole-time Director |
| Vivek Kumar Mishra | Non-Executive Director |
| Umesh Kumar Purbey | Independent Director |
| Jeewan Chandra | Independent Director |
PAN HR Solution Book Running Lead Manager
Marwadi Chandarana Intermediaries Brokers Private Limited
mb@marwadichandarana.com
PAN HR Solution Registrar to the issue
Maashitla Securities Private Limited
investor.ipo@maashitla.com
PAN HR Solution Strengths
Nationwide workforce
The company manages a large workforce deployed across multiple locations across India. This enables consistent service delivery across sectors such as e-commerce, manufacturing, and logistics. A dedicated supervisory team monitors attendance, productivity, and deployment, ensuring smooth operations and timely completion of client requirements
Regulatory compliance
The company follows all key statutory requirements, including Goods and Services Tax (GST), Provident Fund (PF), Employees’ State Insurance Corporation (ESIC), and labour laws. It also adapts to changes in regulations from time to time, helping reduce legal risks, avoid penalties, and maintain transparent operations
End-to-end services
The company offers a comprehensive range of human resource solutions, including recruitment, payroll management, compliance auditing, facility management, and staffing services. This one-stop service model supports client needs across functions and helps strengthen relationships while expanding the customer base
PAN HR Solution Risks
Regional dependence
The company derives a large share of its revenue from Delhi, Haryana, and Uttar Pradesh. This geographic concentration increases exposure to local economic changes, competition, and demographic shifts, which could negatively impact revenue and overall business performance
Contract renewals
The company operates largely through time-based contracts and work orders with customers. If clients choose not to renew agreements, reduce service scope, or shift to competitors, revenue and cash flows may be affected. The ability to attract new customers and maintain long-term relationships remains critical to business stability
Verification limitations
The company follows internal policies for background checks of deployed personnel. However, due to the high volume of workforce and limited availability of reliable information in some cases, complete verification may not always be possible. Any failure in proper screening could affect service quality, reputation, and business operations
IPO FAQs
This IPO consists of an offer for sale of up to Rs 3.0 crore, of 384,000 shares. It also consists of a fresh issue of Rs 14.0 crore.
The promoters of the company are Rajeev Kumar and Rajeev Kumar.
The category allocation of qualified institutional buyers is 50.0%, the category allocation of non individual investors or high networth individuals is 15.0% and for retail investors it is 35.0%.
The price band of the IPO is Rs 74.0 - 78.0.
The IPO application opens on Feb 06, 2026 and closes on Feb 10, 2026.
The minimum lot size for the IPO is 3200. The maximum lot size for the IPO is 3200.
For all category investors, the minimum application amount for this IPO is Rs. 236,800.0, the maximum value for this IPO is Rs 249,600.0.
This IPO will be allotted on Feb 11, 2026.
The refund will be credited to your account on Feb 12, 2026.
The allotted shares will be credited to your demat on Feb 12, 2026.
Pan HR Solution Ltd.’s shares listed on the stock exchanges on Feb 13, 2026.