PAN HR Solutions IPO: GMP, Price, Date & Review

PAN HR Solutions IPO- Company Analysis

PAN HR Solutions IPO under the SME IPO category is a bookbuild issue of Rs. 17.04 Cr by PAN HR Solutions Limited and provides services for e-commerce logistics, payroll, human resources, staffing, facilities management, and compliance audits.

The business uses a business-to-business (B2B) model and offers complete personnel solutions for a variety of jobs, from skilled blue-collar workers to unskilled laborers. As a one-stop shop, the organization offers a comprehensive HR solution that includes hiring, payroll administration, facilities management, compliance auditing, and staffing solutions.

Services provided:

• Manpower Services

• Services for Payroll

• Management of Facilities

• Compliance Audit as a Staffing Solution.

PAN HR Solutions IPO Details

The PAN HR Solutions IPO date of opening is 06 Feb 2026, its initial public offering will end on 10 Feb, IPO allotment on Feb 11 and refund initiation on Feb 12, 2026.

The Rs. 17.04 crore new SME IPO comprises a combination of fresh issue of 0.18 crore shares (Rs. 14.04 Cr) and offer for sale of 0.04 crore shares (Rs. 3 Cr).

The PAN HR Solutions IPO listing date (expected) might be on Friday, Feb 13, 2026, and listing at the BSE and SME. 

The PAN HR Solutions IPO price band is Rs. 74 to Rs. 78.

IPO Timetable (Tentative)

Events	Date
IPO Opening Date	Feb 06, 2026
IPO Closing Date	Feb 10, 2026
IPO Allotment Date	Feb 11, 2026
Refund Initiation	Feb 12, 2026
IPO Listing Date	Feb 13, 2026

 

Click to open demat account and apply for the IPO.

 

Company Financials

(Amount in Cr)

Particulars	31 Mar 2025	31 Mar 2024	31 Mar 2023
Assets	36.06	42.31	37.07
Total Income	283.69	281.92	256.36
PAT	5.02	4.20	3.88
EBITDA	6.86	5.19	5.37
Net Worth	18.26	14.04	12.14
Reserves & Surplus	18.24	14.02	12.12
Total Borrowing	-	0.03	0.60

 

Cash Flows

(Amount in lac)

Net Cash Flow	31 Mar 2025	31 Mar 2024	31 Mar 2023
Net Cash Flow Operating Activities	77.01	681.93	202.48
Net Cash Flow Investing Activities	(127.74)	(202.59)	(157.23)
Net Cash Flow Financing Activities	(88.91)	(289.67)	(18.68)

 

Revenue Bifurcation

(Rs. in Lac)

(Source: RHP)

The Objective of the Issue

The company desires to use the Net Proceeds from the Issue to fulfill its following goals:

• Funding the working capital requirements of the Company. ~ Rs. 9.75 Cr.

• Pre-payment or repayment of certain outstanding borrowings availed by the Company.

• General Corporate Purposes. 
  
  

Listed Peers of PAN HR Solutions Ltd.

Name of Company	Face Value (₹)	Basic EPS (₹)	PE Ratio (x)
Itcons E-Solutions Limited	10	6.43	63.20
Happy Square Outsourcing Services Limited	10	7.07	8.27
Spectrum Talent Management Limited	10	3.13	24.39

 

Valuation

KPI	Value
ROE	31.05%
ROCE	38.30%
RoNW	27.47%
PAT Margin	1.77%
EBITDA Margin	2.42%
Price to Book Value	2.32

 

 

Evaluation of P/E Ratio

Considering the period ended on FY 2025 with an EPS of Rs. 10.17 from the last year, the resulting P/E ratio is 7.67x.

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IPO's Strengths

• Widespread Deployment of Workers

• Strong Regulatory and Compliance Knowledge

• Skilled Management and Leadership Group

• An extensive portfolio of services.
  
  

IPO's Weaknesses

• High Client Concentration

• Working Capital Intensity

• Sectoral Dependency 

• Minimal Operating Profits

 

PAN HR Solutions IPO GMP (Grey Market Premium)

PAN HR Solutions IPO GMP today has not started yet as of 03 Feb 2026 while writing this information. 

 

PAN HR Solutions IPO Summary

IPO Opening & Closing Date	06 Feb, 2026 to 10 Feb, 2026
Face Value	Rs. 10 per Share
Issue Price	Rs. 74 to Rs. 78 per Share.
Lot Size	1600 Shares
Issue Size	21,84,000 Shares (Rs. 17 Cr)
Offer for Sale	3,84,000 Shares (Rs. 3 Cr)
Fresh Issue	14,20,800 Shares (Rs. 11 Cr)
Listing at	BSE, SME
Issue Type	Bookbuild issue IPO
Registrar	Maashitla Securities Pvt. Ltd.

IPO Lot Details 

Retail investors can invest in a minimum of 2 Lots (3200 Shares) for Rs. 2,49,600, and in multiples thereof, while HNI investors can invest in a minimum of 3 Lots (4800 Shares) for Rs. 3,74,400.

Minimum Lot Investment (Retail)	2 Lots
Maximum Lot Investment (Retail)	2 Lots
HNI (Min)	3 Lots

 

PAN HR Solutions IPO Allotment Status

To check the PAN HR Solutions IPO Allotment Status, visit the official Registrar’s website or BSE website. Below are the website links for you.

Using BSE Website - ​BSE IPO allotment status

Promoters And Management of PAN HR Solutions Ltd.

• Rajeev Kumar 

• Rajni Kumari

Pre-Issue Promoter Shareholding	90.92%
Post-Issue Promoter Shareholding	-

 

IPO Lead Managers

• Marwadi Chandarana Intermediaries Brokers Pvt. Ltd.
  
  

Dividend Policy

The company has paid a dividend of Rs. 1020.40, Rs. 1173.46 and Rs. 357.14 per equity share during the last three financial years.

 Conclusion

PAN HR Solutions Manpower, payroll, and compliance services are issues for small-sized SMEs, and they compete in high-demand industries with low margins. Strong ROE, ROCE and low P/E valuation are attractive from a short-term listing standpoint, but working capital risk should be disregarded. Long-term investors should be cautious, but high-risk investors should subscribe to the IPO.

 

Finowings IPO Analysis

Hope you enjoyed the Finowings IPO Analysis. We tried our best to give every required detail about the company that you should know before applying to the IPO. 

You must consult your financial advisor before making any financial decisions. 

To Apply for the IPO, Click Here.

To Read the Prospectus of the Company Click Here to Download the DRHP.

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DISCLAIMER: This blog is NOT any buy or sell recommendation. No investment or trading advice is given. The content is purely for educational and information purposes only. Always consult your eligible financial advisor for investment-related decisions.