PAN HR Solutions IPO was launched through the Book Built Issue route by PAN HR Solutions Limited. The public issue consisted of a fresh issue of equity shares along with an offer for sale by existing shareholders. Through the IPO, the company planned to raise funds for expanding its business operations, meeting working capital requirements, investing in technology, and fulfilling general corporate purposes. After the completion of the issue process, the company’s equity shares were listed on the BSE SME platform.
PAN HR Solutions Limited operates in the human resource management and staffing industry. The company offers a comprehensive range of workforce management services, including recruitment, staffing, payroll processing, compliance management, and HR outsourcing. Its solutions are designed to help organisations efficiently manage their workforce while complying with applicable employment and labour regulations.
The company serves clients from various industries by providing permanent staffing, temporary staffing, executive search, payroll administration, statutory compliance, contract staffing, and workforce outsourcing services. It focuses on delivering customised HR solutions based on the specific operational requirements of its clients.
PAN HR Solutions Limited has developed its business around long-term client relationships, technology-enabled HR processes, and an experienced management team. By combining recruitment expertise with efficient workforce management services, the company continues to strengthen its presence in India’s organised HR services sector.
India’s staffing and HR outsourcing industry continues to expand due to increasing formal employment, business outsourcing, digital HR adoption, and growing demand for flexible workforce solutions. These factors are expected to create long-term growth opportunities for companies operating in this segment.
Since the IPO has been completed and the shares are listed, investors should evaluate the company’s financial performance, business model, customer base, valuation, competitive strengths, and future growth opportunities before making any investment decision.
PAN HR Solutions IPO Details
| IPO Details | Information |
|---|---|
| IPO Name | PAN HR Solutions IPO |
| Company Name | PAN HR Solutions Limited |
| IPO Type | Book Built Issue |
| IPO Category | SME IPO |
| Face Value | ₹10 Per Equity Share |
| Price Band | ₹74 to ₹78 Per Share |
| Issue Size | ₹17.04 Crore |
| Fresh Issue | ₹14.04 Crore |
| Offer for Sale | ₹3.00 Crore |
| Total Shares Offered | 21,84,000 Equity Shares |
| IPO Open Date | 6 February 2026 |
| IPO Close Date | 10 February 2026 |
| Basis of Allotment | 11 February 2026 |
| Refund Initiation | 12 February 2026 |
| Shares Credited to Demat Account | 12 February 2026 |
| Listing Date | 13 February 2026 |
| Listing Exchange | BSE SME |
| Lot Size | 1,600 Equity Shares |
| Registrar | Bigshare Services Private Limited |
| Book Running Lead Manager | Shreni Shares Limited |
The IPO comprised a fresh issue and an offer for sale. The proceeds from the fresh issue were proposed to be utilised for business expansion, strengthening working capital, upgrading operational capabilities, investing in technology, and meeting general corporate purposes.
PAN HR Solutions IPO Dates
The important dates relating to the PAN HR Solutions IPO are provided below.
| IPO Event | Date |
|---|---|
| IPO Opening Date | 6 February 2026 |
| IPO Closing Date | 10 February 2026 |
| Basis of Allotment | 11 February 2026 |
| Refund Initiation | 12 February 2026 |
| Shares Credited to Demat Account | 12 February 2026 |
| Listing Date | 13 February 2026 |
Following the completion of the allotment process, successful applicants received the allotted shares in their demat accounts before the company’s equity shares commenced trading on the BSE SME platform.
PAN HR Solutions IPO Reservation
The equity shares offered through the IPO were allocated among different categories of investors in accordance with the applicable SME IPO regulations.
| Investor Category | Reservation |
|---|---|
| Qualified Institutional Buyers (QIB) | Not More Than 50% |
| Non-Institutional Investors (NII) | Not Less Than 15% |
| Retail Individual Investors (RII) | Not Less Than 35% |
The final allocation for each category depended on the number of valid bids received during the subscription period and the applicable allotment guidelines.
PAN HR Solutions IPO Lot Size
Applications for the IPO were accepted only in the prescribed lot sizes.
| Application | Shares | Amount |
|---|---|---|
| Retail Minimum | 2 Lots (3,200 Shares) | ₹2,49,600 |
| Retail Maximum | 2 Lots (3,200 Shares) | ₹2,49,600 |
| HNI Minimum | 3 Lots (4,800 Shares) | ₹3,74,400 |
The investment values shown above have been calculated using the upper end of the price band of ₹78 per equity share. Applicants were required to submit applications in multiples of the prescribed lot size in accordance with the IPO guidelines.
About PAN HR Solutions Limited
PAN HR Solutions Limited is engaged in providing human resource management and workforce outsourcing services to businesses across multiple industries. The company offers end-to-end HR solutions that help organisations streamline recruitment, employee management, payroll administration, and statutory compliance. Its integrated service model enables clients to focus on their core business activities while outsourcing various HR functions to experienced professionals.
The company has built its business around delivering customised staffing and HR solutions that cater to the evolving workforce requirements of corporate clients. By combining industry knowledge with technology-enabled processes, PAN HR Solutions Limited provides reliable and scalable services that support workforce planning and operational efficiency.
Over the years, the company has expanded its service portfolio and strengthened its client relationships by maintaining quality standards, timely execution, and regulatory compliance. Its focus on customer satisfaction and continuous process improvement has contributed to the growth of its business across different sectors.
As organisations increasingly adopt outsourced HR services to improve efficiency and reduce administrative burdens, the company continues to enhance its operational capabilities while expanding its market presence.
Business Operations
PAN HR Solutions Limited provides a broad range of human resource and staffing services designed to meet the workforce requirements of businesses operating across various industries.
- Permanent Recruitment – The company assists organisations in identifying and recruiting suitable candidates for permanent positions across different functional areas.
- Temporary Staffing – It provides contractual and temporary workforce solutions that enable businesses to manage seasonal demand and project-based requirements.
- Payroll Management – The company manages payroll processing, salary disbursement, tax deductions, statutory contributions, and employee records on behalf of its clients.
- HR Outsourcing Services – It offers complete outsourcing solutions covering recruitment, employee onboarding, payroll administration, compliance management, and workforce support.
- Executive Search Services – The company assists organisations in recruiting senior management and leadership professionals based on their specific business requirements.
- Compliance Management – It helps businesses comply with labour laws and statutory regulations, including PF, ESIC, gratuity, professional tax, and other employment-related obligations.
- Contract Staffing Solutions – The company supplies skilled and semi-skilled manpower for fixed-term assignments across multiple business sectors.
- Workforce Administration – It manages employee documentation, attendance records, leave administration, and other HR-related operational activities.
- Recruitment Process Outsourcing (RPO) – The company supports businesses by managing recruitment activities through dedicated hiring solutions.
- HR Consulting Services – It provides advisory services related to human resource planning, organisational development, HR policies, and employee management practices.
Industry Overview
India’s human resource services industry has experienced significant growth over the past decade, driven by increasing corporate hiring, business expansion, workforce formalisation, and the growing acceptance of outsourced HR services. Organisations across different industries are increasingly partnering with specialised HR service providers to improve operational efficiency and reduce administrative costs.
The staffing industry has also benefited from rising demand for contractual employees, project-based hiring, flexible workforce models, and specialised recruitment services. Businesses continue to focus on optimising workforce management while ensuring compliance with changing labour regulations.
Technology has become an integral part of the HR industry. Digital recruitment platforms, cloud-based payroll systems, employee management software, artificial intelligence, and automated HR processes have significantly improved operational efficiency and enhanced employee experience.
Government initiatives supporting employment generation, digital transformation, skill development, and labour reforms are expected to create additional opportunities for organised HR service providers. As businesses continue to outsource non-core functions, the demand for integrated staffing and HR management solutions is expected to remain strong over the long term.
Business Strategy
PAN HR Solutions Limited aims to strengthen its position in the organised HR services industry by expanding its client base, improving operational efficiency, and enhancing its service offerings.
The company focuses on building long-term business relationships through customised HR solutions, timely service delivery, and regulatory compliance. It also plans to expand its presence across new industries and geographical markets while increasing the adoption of technology-driven HR solutions.
Another important strategic objective is strengthening its digital infrastructure to improve recruitment efficiency, payroll management, workforce administration, and client servicing. Investment in technology is expected to enhance operational productivity while improving the overall customer experience.
Going forward, PAN HR Solutions Limited intends to continue expanding its staffing and HR outsourcing business by leveraging its industry expertise, experienced management team, and technology-enabled service platform. Through these initiatives, the company seeks to achieve sustainable long-term growth while creating value for its stakeholders.
PAN HR Solutions IPO Financial Information
Reviewing a company’s financial performance helps investors understand its business growth, profitability, operational efficiency, and financial stability. By analysing revenue trends, earnings, net worth, borrowings, and other financial indicators over multiple years, investors can gain a better understanding of the company’s long-term business potential. These financial metrics should be evaluated along with industry outlook, management quality, and valuation before making an investment decision.
PAN HR Solutions Financial Summary
| Particulars | FY2023 | FY2024 | FY2025 |
|---|---|---|---|
| Revenue from Operations | ₹69.92 Crore | ₹84.66 Crore | ₹105.48 Crore |
| Total Income | ₹70.18 Crore | ₹84.93 Crore | ₹105.83 Crore |
| EBITDA | ₹5.86 Crore | ₹7.94 Crore | ₹10.76 Crore |
| Profit Before Tax (PBT) | ₹4.71 Crore | ₹6.42 Crore | ₹8.89 Crore |
| Profit After Tax (PAT) | ₹3.49 Crore | ₹4.79 Crore | ₹6.63 Crore |
| Net Worth | ₹13.48 Crore | ₹18.32 Crore | ₹24.95 Crore |
| Total Borrowings | ₹4.92 Crore | ₹5.37 Crore | ₹6.08 Crore |
The company’s financial performance reflects consistent growth in revenue and profitability during the last three financial years. Higher operating income, improving earnings, and an increase in net worth indicate steady business expansion. The company has also maintained a balanced capital structure while supporting the growth of its HR outsourcing and staffing operations.
PAN HR Solutions IPO Key Performance Indicators (KPIs)
The following financial ratios provide additional insight into the company’s profitability, capital efficiency, and financial position.
| KPI | Value |
|---|---|
| Return on Equity (ROE) | 31.62% |
| Return on Capital Employed (ROCE) | 37.84% |
| Return on Net Worth (RONW) | 26.57% |
| EBITDA Margin | 10.17% |
| PAT Margin | 6.27% |
| Debt-to-Equity Ratio | 0.24 |
| Earnings Per Share (EPS) | ₹5.91 |
| Net Asset Value (NAV) Per Share | ₹22.24 |
| Price to Earnings (P/E) | 13.20x |
The company’s return ratios indicate efficient utilisation of shareholders’ funds and business capital. Improving operating and net profit margins reflect better cost management and business scalability. A relatively low debt-to-equity ratio indicates prudent financial management, while EPS, NAV, and the P/E ratio help investors evaluate the IPO valuation in comparison with the company’s earnings potential and industry peers.
Objects of the PAN HR Solutions IPO
The company intends to utilise the net proceeds from the fresh issue for the following purposes:
- Meeting working capital requirements.
- Investment in technology infrastructure and digital HR solutions.
- Expansion of business operations across new geographical markets.
- Strengthening operational capabilities.
- General corporate purposes.
The proposed utilisation of IPO proceeds is expected to support the company’s future growth strategy by improving working capital availability, enhancing technology-driven HR services, expanding operational capacity, and strengthening its overall business infrastructure. Continuous investment in technology and service capabilities is expected to improve efficiency while supporting long-term business development.
PAN HR Solutions IPO Listing Performance
The listing performance of an IPO provides an indication of how the market responded when the company’s shares began trading on the stock exchange. While listing gains may reflect strong investor sentiment, long-term investment decisions should be based on business fundamentals, financial performance, valuation, and future growth prospects.
PAN HR Solutions IPO Listing Details
| Particular | Value |
|---|---|
| Listing Exchange | BSE SME |
| Listing Date | 13 February 2026 |
| Issue Price | ₹78 Per Share |
| Listing Price | ₹86.00 Per Share |
| Listing Gain | 10.26% |
| Closing Price on Listing Day | ₹90.25 Per Share |
The shares of PAN HR Solutions Limited made a positive debut on the BSE SME platform by listing above the issue price. The premium listing reflected encouraging investor participation during the IPO. However, investors should evaluate the company’s long-term financial performance and business outlook rather than relying solely on listing-day returns.
PAN HR Solutions IPO Subscription Status
The subscription figures indicate the level of demand received from different categories of investors during the IPO bidding period. Strong subscription generally reflects positive market interest, although investment decisions should also consider the company’s valuation, financial position, and growth prospects.
PAN HR Solutions IPO Subscription
| Investor Category | Subscription |
|---|---|
| Qualified Institutional Buyers (QIB) | 18.42 Times |
| Non-Institutional Investors (NII) | 96.37 Times |
| Retail Individual Investors (RII) | 61.28 Times |
| Total Subscription | 49.86 Times |
The IPO witnessed healthy participation across all investor categories. The Non-Institutional Investor (NII) segment recorded the highest demand, while Retail Individual Investors (RIIs) and Qualified Institutional Buyers (QIBs) also subscribed the issue multiple times, indicating broad market interest.
PAN HR Solutions IPO Review
PAN HR Solutions Limited operates in the organised human resource services industry by offering recruitment, staffing, payroll processing, HR outsourcing, and workforce management solutions. The company serves businesses across multiple sectors by providing customised HR services designed to improve workforce efficiency and regulatory compliance.
The company has developed a diversified service portfolio that includes permanent recruitment, temporary staffing, executive search, payroll administration, contract staffing, compliance management, and HR consulting. This integrated approach enables clients to outsource HR functions while focusing on their core business operations.
India’s organised staffing industry continues to benefit from increasing formal employment, rising demand for flexible workforce solutions, digital HR transformation, and expanding corporate outsourcing. These factors are expected to support the long-term growth of HR service providers.
On the other hand, investors should consider risks such as intense competition, employee availability, dependence on client acquisition and retention, changes in labour regulations, and economic conditions that may influence hiring activity. A careful assessment of financial performance, management quality, business strategy, and valuation is recommended before making an investment decision.
PAN HR Solutions IPO Strengths
PAN HR Solutions Limited has established itself as a provider of integrated HR and staffing services. Some of the company’s key strengths include:
- Comprehensive portfolio of HR outsourcing and staffing solutions.
- Long-standing relationships with clients across multiple industries.
- Experienced management team with expertise in workforce management.
- Technology-enabled recruitment and payroll administration processes.
- Consistent growth in revenue and profitability.
- Strong understanding of labour law compliance and statutory requirements.
- Scalable business model supported by expanding service capabilities.
- Growing opportunities driven by increasing outsourcing of HR functions.
PAN HR Solutions IPO Risk Factors
Like any business, PAN HR Solutions Limited faces certain operational and industry-related risks that investors should evaluate before investing.
- The business operates in a competitive HR services and staffing industry.
- Revenue depends on acquiring new clients and retaining existing customers.
- Any slowdown in employment generation or corporate hiring may impact business growth.
- Changes in labour laws and statutory regulations could increase compliance costs.
- Dependence on skilled recruitment professionals may affect service delivery.
- Economic uncertainty may reduce demand for staffing and outsourcing services.
- Increasing competition may exert pressure on pricing and operating margins.
- Expansion into new markets requires effective execution and operational management.
PAN HR Solutions IPO Promoters
PAN HR Solution Limited is promoted by Rajeev Kumar and Rajni Kumari. The promoters have been actively involved in the company’s growth and have contributed to the expansion of its human resource and staffing business. Their leadership has helped the company strengthen its service portfolio, build long-term client relationships, and improve its operational capabilities across various business segments.
PAN HR Solutions IPO Promoters Details
| Promoter | Designation |
|---|---|
| Rajeev Kumar | Promoter, Chairman & Managing Director |
| Rajni Kumari | Promoter & Whole-Time Director |
PAN HR Solutions IPO Management Team
The company is managed by professionals with experience in human resource services, finance, business administration, and corporate governance. The management team is responsible for formulating business strategies, overseeing daily operations, ensuring regulatory compliance, and supporting the company’s long-term expansion plans.
| Name | Designation |
|---|---|
| Rajeev Kumar | Chairman & Managing Director |
| Rajni Kumari | Whole-Time Director |
| Vivek Kumar Mishra | Non-Executive Director |
| Jeewan Chandra | Independent Director |
| Umesh Kumar Purbey | Independent Director |
| Anamika Sinha Roy | Company Secretary & Compliance Officer |
PAN HR Solutions IPO Registrar Details
Bigshare Services Private Limited was appointed as the registrar to the public issue. It was responsible for processing IPO applications, finalising the basis of allotment, facilitating the credit of equity shares to successful applicants’ demat accounts, initiating refunds where applicable, and providing investor support throughout the post-issue process.
| Particular | Details |
|---|---|
| Registrar Name | Bigshare Services Private Limited |
| Website | www.bigshareonline.com |
| IPO Allotment Status | https://ipo.bigshareonline.com/IPO_Status.html |
| Email ID | [email protected] |
| Contact Number | +91-22-6263 8200 |
Investors may also contact the registrar for assistance regarding allotment status, refund-related queries, demat credit, and other services connected with the IPO.
PAN HR Solutions IPO Lead Manager Details
Shreni Shares Limited acted as the Book Running Lead Manager for the IPO. The lead manager coordinated various activities associated with the public issue, including regulatory compliance, issue management, documentation, and coordination with market intermediaries to ensure the successful completion of the offering.
| Particular | Details |
|---|---|
| Lead Manager | Shreni Shares Limited |
| Website | www.shreni.in |
| Email ID | [email protected] |
| Contact Number | +91-79-4040 3200 |
The lead manager also assisted the company throughout the IPO process by managing regulatory requirements and facilitating communication with the relevant stakeholders.
PAN HR Solution Limited Contact Details
The following contact information can be used by investors, shareholders, and other stakeholders for business enquiries and investor-related communication.
| Particular | Details |
|---|---|
| Company Name | PAN HR Solution Limited |
| Registered Office | A-42/03, Second Floor, Sector-62, Gautam Buddha Nagar, Noida – 201301, Uttar Pradesh, India |
| Website | www.panhr.in |
| Email ID | [email protected] |
| Phone Number | +91-74288 52201 |
How to Check PAN HR Solutions IPO Allotment Status
Applicants could check the allotment status after the completion of the allotment process by using either the registrar’s online portal or the BSE IPO platform.
Check Through Bigshare Services
- Visit the IPO allotment page maintained by Bigshare Services.
- Select PAN HR Solutions IPO from the available list.
- Choose one of the search options such as PAN, Application Number, or DP/Client ID.
- Enter the required details in the appropriate field.
- Submit the information to view the allotment status.
Check Through BSE
- Open the BSE IPO allotment portal.
- Select PAN HR Solutions IPO from the list of available issues.
- Enter your PAN number or IPO application number.
- Complete the verification process if prompted.
- Click the search button to view the allotment result.
Frequently Asked Questions (FAQs)
What is PAN HR Solutions IPO?
PAN HR Solutions IPO is a Book Built SME public issue comprising a fresh issue of equity shares and an offer for sale.
What was the price band of the PAN HR Solutions IPO?
The IPO was offered at a price band of ₹74 to ₹78 per equity share.
What was the total issue size of the PAN HR Solutions IPO?
The total issue size of the IPO was ₹17.04 crore.
When did the PAN HR Solutions IPO open and close?
The IPO opened on 6 February 2026 and closed on 10 February 2026.
On which stock exchange are PAN HR Solutions shares listed?
The company’s equity shares are listed on the BSE SME platform.
Who was the registrar for the PAN HR Solutions IPO?
Bigshare Services Private Limited was appointed as the registrar to the issue.
Who was the lead manager for the PAN HR Solutions IPO?
Shreni Shares Limited acted as the Book Running Lead Manager for the IPO.
What was the minimum lot size for the PAN HR Solutions IPO?
Retail investors were required to apply for a minimum of 2 lots comprising 3,200 equity shares.
What does PAN HR Solution Limited do?
The company provides recruitment, staffing, payroll management, HR outsourcing, workforce administration, compliance management, and related human resource solutions to clients operating across various industries.
What were the objectives of the PAN HR Solutions IPO?
The company proposed to utilise the net proceeds from the fresh issue primarily for working capital requirements and general corporate purposes.
