PAN HR Solutions Ltd.
PANHRSME
Ask IPO
Overview
PAN HR Solution Limited operates on a B2B model, providing comprehensive manpower and staffing solutions across India. The company specializes in deploying unskilled to skilled blue-collar workers for various sectors including e-commerce, logistics, and manufacturing. Its services encompass manpower provision, payroll management, facility management, and compliance auditing. Operating primarily on a 'Collect and Pay' model, the company serves a range of well-established clients and, as of November 2025, has deployed over 10,374 personnel to customer locations.
Opening Date
Feb 06, 2026
Closing Date
Feb 10, 2026
Listing Date
Feb 13, 2026
IPO Type
SME
IPO Status
Closed
Issue Size
17.04 Cr
Fresh Issue
14.04 Cr
Offer for Sale
3 Cr
Price Band
₹74 - ₹78
Lot Size
1600
IPO Timeline
Financials
Revenue
Profit After Tax (PAT)
IPO Objective
The main objectives of the issue are to utilize the net proceeds from the fresh issue for the following purposes:
- •
To fund the working capital requirements of the company, which are substantial due to the manpower-intensive nature of the business and the planned gradual implementation of a 'Pay and Collect' model, requiring advance disbursements to personnel.
- •
To allocate funds for general corporate purposes, which may include meeting day-to-day operational expenses, brand building, marketing, servicing borrowings, and addressing any business exigencies as approved by the board.
Key Performance Indicator
P/E Ratio
8.41
EPS
9.27
ROE
24.64%
ROCE
26.76%
RONW
21.94%
Debt to Equity Ratio
—
PAT Margin
3.33%
EBITDA Margin
4.12%
P/B
2.11
SWOT Analysis
Strengths
- •
Extensive nationwide workforce deployment, with over 10,374 personnel at client locations as of November 2025, ensuring consistent service delivery.
- •
Strong expertise in regulatory and statutory compliance, including GST, PF, and ESIC, which minimizes legal risks for both the company and its clients.
- •
An experienced leadership team, with promoters having over a decade of experience in the human resources industry, driving strategic growth.
- •
A comprehensive portfolio of services, offering end-to-end HR solutions such as recruitment, payroll management, facility management, and compliance audits.
Weaknesses
- •
High dependence on a limited number of customers, with the top 10 customers accounting for nearly 99% of revenue.
- •
History of negative cash flows from operating activities in certain periods, which may affect liquidity and financial stability.
- •
Operation with low EBITDA and profit margins, making the business sensitive to increases in salary costs or changes in statutory dues.
- •
Instances of delayed or incorrect corporate filings with the Registrar of Companies in the past, which could attract penalties.
Opportunities
- •
Geographical diversification by expanding into new regions and strengthening presence in existing markets to reach a larger client base.
- •
Expansion of the service portfolio to include leadership hiring, digital workforce solutions, and third-party logistics (3PL) services.
- •
Penetration into fast-growing sectors such as healthcare, renewable energy, and fintech, as well as tapping into government sector contracts.
- •
Transitioning to a 'Pay and Collect' model, which has the potential to improve operating margins and business scalability.
Threats
- •
Intense competition from a highly fragmented industry with low barriers to entry, including both organized and unorganized players.
- •
Potential changes in government regulations and stringent labour laws in India, which could disrupt operations and increase costs.
- •
Possible conflicts of interest with a Promoter Group company, Talent Destination Private Limited, which operates in a similar business domain.
- •
Risks associated with a large deployed workforce, including service-related claims, employee disruptions, and reputational damage from misconduct.
Subscription Rate
Frequently Asked Questions about PAN HR Solutions Ltd.
PAN HR Solution Limited operates on a B2B model, providing comprehensive manpower and staffing solutions across India. The company specializes in deploying unskilled to skilled blue-collar workers for various sectors including e-commerce, logistics, and manufacturing. Its services encompass manpower provision, payroll management, facility management, and compliance auditing. Operating primarily on a 'Collect and Pay' model, the company serves a range of well-established clients and, as of November 2025, has deployed over 10,374 personnel to customer locations.
The PAN HR Solutions Ltd. IPO is scheduled to open for subscription on Feb 06, 2026 and close on Feb 10, 2026. Investors can apply for shares during this period through eligible platforms.
The price band for the PAN HR Solutions Ltd. IPO is ₹74 to ₹78. Investors can place bids within this range once the issue opens.
The minimum lot size for the PAN HR Solutions Ltd. IPO is 1600 shares. The minimum investment amount ₹1,24,800.
The total issue size of the PAN HR Solutions Ltd. IPO is approximately ₹17.04. Issue size represents the total value of shares offered to the public.
As per the latest available information, the PAN HR Solutions Ltd. IPO has been subscribed 1.48 times. Subscription levels can change significantly during the offer period.
The Grey Market Premium (GMP) for the PAN HR Solutions Ltd. IPO is not available as of now. GMP reflects unofficial market sentiment and should not be considered a guarantee of listing performance.
The shares of PAN HR Solutions Ltd. are expected to list on stock exchanges on Feb 13, 2026, subject to completion of the allotment process and regulatory approvals.
The net proceeds from the PAN HR Solutions Ltd. IPO are proposed to be used for The main objectives of the issue are to utilize the net proceeds from the fresh issue for the following purposes:, To fund the working capital requirements of the company, which are substantial due to the manpower-intensive nature of the business and the planned gradual implementation of a 'Pay and Collect' model, requiring advance disbursements to personnel., To allocate funds for general corporate purposes, which may include meeting day-to-day operational expenses, brand building, marketing, servicing borrowings, and addressing any business exigencies as approved by the board.
Before applying for the PAN HR Solutions Ltd. IPO, investors generally review the company’s business model, financial performance, valuation, industry outlook, and risk factors mentioned in the offer document.
