Company Overview
PAN HR Solutions Ltd, incorporated in 2015, provides human resource services like staffing, payroll management, facility management, compliance audits, and e-commerce logistics. They work on a B2B model, supplying unskilled to skilled blue-collar workers and end-to-end HR solutions to companies. The company acts as a one-stop provider for recruitment, payroll, and compliance needs.
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IPO Details
| Detail | Information |
|---|---|
| Issue Open Date | February 6, 2026 |
| Issue Close Date | February 10, 2026 |
| Listing Date | February 13, 2026 on BSE SME |
| Price Band | ā¹74 to ā¹78 per share |
| Face Value | ā¹10 per share |
| Lot Size | 1,600 shares |
| Minimum Amount for Retail | ā¹2,49,600 (2 lots / 3,200 shares) |
| Total Size | 21,84,000 shares (up to ā¹17 Cr) |
| Fresh Issue | 14,20,800 shares (up to ā¹11 Cr) |
| Offer For Sale | 3,84,000 shares (up to ā¹3 Cr) |
| Market Maker | 3,79,200 shares (Giriraj Stock Broking Pvt Ltd) |
Retail max 2 lots (ā¹2,49,600), S-HNI min 3 lots, B-HNI min 9 lots.
REGISTRAR: Maashitla Securities Pvt Ltd CLICK HERE
Use of IPO Money
The company will use the net proceeds from the fresh issue in these simple ways:
- ā¹9.75 Cr for working capital requirements (to buy supplies, pay workers, and keep daily business running smoothly).
- Pre-payment or repayment of certain outstanding borrowings (to pay off some bank loans and reduce interest costs).
- General Corporate Purposes (for office needs, small improvements, etc.).
This helps grow the business and strengthen finances. (OFS money goes to selling shareholders.)
Key Financials and Growth
| Period Ended | Total Income (ā¹ Cr) | Profit After Tax (PAT, ā¹ Cr est) | EBITDA (profit before some costs) | Net Worth / Assets (ā¹ Cr) | Borrowings |
|---|---|---|---|---|---|
| Nov 30, 2025 | 154.23 | ~5.13 | Positive | Assets ā¹43.72 | Outstanding (to repay) |
| Mar 31, 2025 | 283.69 | Profitable | Strong | Assets ā¹36.06 | Stable |
| Mar 31, 2024 | 281.92 | Profitable | Improving | Assets ā¹42.31 | Base |
| Mar 31, 2023 | 256.36 | Growing | Base | Assets ā¹37.07 | Low |
Growth highlights: Income stable ~ā¹280 Cr yearly, assets growing to ā¹44 Cr. Recent 9m shows ā¹154 Cr income. Profitable business with good returns. Debt exists but manageable; IPO repays part.
Strengths
- Stable high revenue (~ā¹280 Cr yearly) from HR/staffing services.
- End-to-end solutions (recruitment to payroll) attract repeat B2B clients.
- Blue-collar focus in growing e-commerce/logistics sectors.
- Profitable operations with positive PAT/EBITDA.
- IPO funds working capital + debt paydown for smoother scaling.
Key Concerns and Risks
- High revenue concentration on few client industries (e-commerce, logistics).
- Labour supply risks (finding/retaining workers).
- Competition from larger HR firms.
- SME IPO risks: Low trading volume, price swings.
- OFS portion (ā¹3 Cr) ā some shareholders cashing out.
IPO FAQS
What is an IPO?
- An IPO (Initial Public Offering) is when a private company sells its shares to the public for the first time to raise money.
- Example: If a well-known pizza company wants to grow, it can list its shares on the stock exchange so anyone can buy a piece of the company.
How can you apply for an IPO (using Zerodha or Upstox)?
- Make sure you have a Demat account and your bank account is linked.
- Steps:
- Log in to your brokerās app (e.g., Zerodha Kite, Upstox).
- Go to the IPO section.
- Select the companyās IPO you want to apply for.
- Enter how many shares (or ālotsā) you want and the price you wish to bid.
- Enter your UPI ID, submit your application, and approve the UPI payment request.
How are IPO shares allotted?
- If more people want shares than are available, the company uses a lottery system to decide who gets them.
- If you donāt get shares, your money is simply returned.
What is GMP (Grey Market Premium)?
- GMP shows the extra price people are willing to pay for IPO shares before they officially start trading.
- Example: If IPO price is ā¹100 and GMP is ā¹20, people are unofficially ready to pay ā¹120. It hints at the IPOās popularity but isnāt a guarantee.
Where to check upcoming IPOs (IPO calendar)?
- Visit popular finance sites like Chittorgarh, IPOWatch, or official exchange websites (NSE, BSE) and look for the āUpcoming IPOā section.
What are IPO listing gains?
- If the shareās price rises on the first trading day, you can make instant profit.
- Example: You buy at ā¹150, and it opens at ā¹200, you gain ā¹50 per share.
How can you make profit from an IPO?
- Quick gains on listing day (if the stock price goes up).
- Long-term: If the company grows, the share price could increase further.
Which IPO is best to buy?
- There is no single best IPO. Check the companyās background, current demand, and GMP, but always research before investing.
- High GMP or popularity doesnāt guarantee profits.
Are IPOs safe?
- IPOs can be profitable but also risky; prices can go up or down sharply.
- Only invest if you are ready for potential losses.
How to check IPO allotment status?
- After the IPO process, check on exchanges (BSE/NSE websites) or the IPO registrarās site (like K-Fintech, Bigshare,or mufg-intime) by entering your PAN or application number to see if you got shares.
Important Tips for Retail Investors Applying for an IPO
- Use Only Your Own PAN Card:
Avoid using the same PAN card for multiple IPO applications. For example, if you have already applied using your PAN for one IPO, donāt try to apply again with the same PAN under different accounts or through others. - Apply in the Right Category:
Ensure you select the correct investor category (such as Retail Individual Investor) when filling out your application. Applying under a wrong category can lead to rejection or disqualification. - Maintain Sufficient Bank Balance:
Before applying, ensure your bank account linked to the application has enough funds to cover the full bid amount. For instance, if the IPO application requires a payment of ā¹15000, make sure your account holds at least that amount. - Use Your Own Bank Account:
Always apply through your own bank account. Using someone elseās account can cause your application to be rejected during the verification process. - Avoid Last-Minute Applications:
Donāt wait until the deadline day or moments before to apply. Last-minute submissions may face technical glitches or processing delays, reducing the chances of success.