PAN HR Solution IPO

About PAN HR Solutions IPO

The PAN HR Solutions IPO opens on Friday, Feb 6, 2026 and closes on Tuesday, Feb 10, 2026. The allotment of shares will take place on Wednesday, Feb 11, 2026. The credit of shares to the demat account will take place on Thursday, Feb 12, 2026. The initiation of refunds will take place on Thursday, Feb 12, 2026. The listing of shares will take place on Friday, Feb 13, 2026.

The offer consists of both a fresh issue and an offer for sale component. The fresh issue will include 0.18 crore shares aggregating to ₹14.04 crores. The offer for sale portion includes 0.04 crore shares aggregating to ₹3.00 crores. The total number of shares and aggregate amount are 21,84,000 shares (aggregating up to ₹17 crores).

PAN HR Solutions IPO’s price band is set at ₹74 to ₹78 per share. The lot size for an application is 1,600. The minimum amount of investment required by an individual investor (retail) is ₹2,49,600 (3,200 shares) (based on upper price). The minimum lot size required for investment by HNIs is 3 lots (4,800 shares), amounting to ₹3,74,400.

PAN HR Solutions operates on a B2B model and provides comprehensive manpower solutions, catering to a range of roles from unskilled to skilled blue-collar workers. They have a PAN India presence and provide human resource, staffing services and compliance solutions to customers in E-commerce, logistics, manufacturing, information technology and other sectors which enables them in streamlining the hiring process, reducing administrative burden, and ensuring suitable candidates.

Objectives of PAN HR Solutions IPO

• Funding working capital requirements of the company.
• General corporate purposes.

Industry Outlook

The Confederation of Indian Industry has outlined a plan to position India as a global logistics hub, emphasizing collaboration among stakeholders to unlock opportunities across industries and regions. This initiative aims to create aspirational career paths, facilitate professional development, and cultivate leadership opportunities. Positive demand trends in the sector have driven growth in new business volumes and further job creation, with the gig economy comprising 12 million workers, over 2% of the workforce, growing at a 17% CAGR and posting a 38% YoY increase, fuelled by digital connectivity, urbanization, and flexible work preferences.

About PAN HR Solutions

Pan HR solutions operates on a B2B model and provides comprehensive manpower solutions, catering to a range of roles from unskilled to skilled blue-collar workers. They have a PAN India presence and provide human resource, staffing services and compliance solutions to customers in E-commerce, logistics, manufacturing, information technology and other sectors which enables them in streamlining the hiring process, reducing administrative burden, and ensuring suitable candidates. They offer range of services i.e. Manpower services, Payroll services, Facility management, staffing solutions, Compliance Audit and E-commerce Logistics which enables them to design and deliver a range of customized solutions suited to the specific needs of their customers, which strengthens their customer acquisition and retention capabilities. As a part of facility management services, they provide personnel for roles such as housekeeping staff, pantry boys, office assistants, and other support roles. They currently operate under a “Collect and Pay” Model, wherein the company raises invoices on its Customers/Principal Employers for services rendered in accordance with the applicable terms and subsequently receives payment.

Strengths of PAN HR Solutions

• Extensive workforce deployment.
• Strong compliance and regulatory expertise.
• Experienced leadership and management team.
• Comprehensive service portfolio.

Risks of PAN HR Solutions

• Their revenue from operations is dependent upon a limited number of customers.
• They generate a significant portion of revenue from Delhi, Haryana and Uttar Pradesh.
• They are reliant on the demand from certain industries for a significant portion of their revenue.
• The company has a large workforce deployed across workplaces and customer premises.

#To be included in respect of PAN HR Solutions in the Prospectus based on the Offer Price

Notes: i. All the financial information for listed industry peers mentioned above is sourced from the audited financial statements of the relevant company for Financial Year 2025 as available on the websites of the Stock Exchanges

ii. P/E Ratio has been computed based on the closing market price of equity shares divided by the Post-Bonus Basic EPS as on March 31, 2025.

iii. Return on Net Worth (%) = Net profit after tax, as restated / Net worth as restated as at period/year end.

iv. Net worth means the aggregate value of the paid up share capital of the company and all reserves created out of profits and securities premium account and debit or credit balance of profit and loss account, after deducting the aggregate value of the accumulated losses, miscellaneous expenditure not written off, as per the restated balance sheet, but does not include reserves created out of revaluation of assets, capital reserve, foreign currency translation reserve, write-back of depreciation as at period /year end, as per Restated Financial Statement of Assets and Liabilities of the company.

v. NAV is computed as the closing net worth divided by the closing outstanding number of equity shares.

Anchor Investor Bidding Date: Thursday, February 05, 2026

• The company, in consultation with the BRLM, may consider participation by Anchor Investors, in accordance with the SEBI ICDR Regulations. The Anchor Investor Bidding Date shall be one Working Day prior to the Bid / Offer Opening Date

• Registrar: Maashitla Securities Private Limited
• Book Running Lead Managers: Marwadi Chandarana Intermediaries Brokers Private Limited

PAN HR Solution Business Model

The company earns its revenue through a B2B model and provides comprehensive manpower solutions, catering to a range of roles from unskilled to skilled blue-collar workers.

PAN HR Solution Company Growth Trajectory

PAN HR Solutions’s total income for FY25 was ₹283.692 crores, whereas in FY24 and FY23 it was ₹281.919 crores and ₹256.355 crores, respectively.

The profit after tax for FY25 was ₹5.016 crores, whereas in FY24 and FY23 it was ₹4.205 crores and ₹3.883 crores, respectively.

Their EBITDA for FY25 was ₹6.862 crores, whereas in FY24 and FY23 it was ₹5.189 crores and ₹5.366 crores, respectively .

PAN HR Solution Market Position

As on November 30, 2025, they have 10,374 personnel (non-core employees) deployed at various locations of their customers. They have served approximately 25 customers, who are well-established and are renowned companies having presence in national and regional operations. They have also been awarded from their clients for providing the services.

They have been recognized as ‘Best performers for city logistics in BBD’22 by Flipkart’ and “Award for Runnersup support partner-Grocery in BBD’23 by Flipkart”. They have also received the ISO 14001: 2015, 45001: 2018 and 9001:2015 certificate from Environmental System Management, Occupational Health and Safety Management System and Quality System Management.

As of 31 March 2025, the company’s Total Income, Profit After Tax, and EBITDA were ₹283.692 crores, ₹5.016 crores, and ₹6.862 crores, respectively.

How to apply for PAN HR Solutions IPO?

• Step 1: Log in to your Kotak Neo Demat account - Log in to your Demat account to access IPO investments. Next, select the current IPO section.
• Step 2: Specify IPO details - Enter the number of lots and the price you wish to apply for.
• Step 3: Enter UPI ID - After entering your UPI ID, click submit. This will place your bid with the exchange.
• Step 4: Mandate Notification - Your UPI app will receive a mandate notification to block funds.
• Step 5: Approve Request - Your funds will be blocked once you approve the mandate request on your UPI.