Bookbuilding IPO | ₹17 Cr | Listed at BSE SME
PAN HR Solutions IPO is a book build issue of ₹17.04 crores. The issue is a combination of fresh issue of 0.18 crore shares aggregating to ₹14.04 crores and offer for sale of 0.04 crore shares aggregating to ₹3.00 crores.
PAN HR Solutions IPO bidding started from Feb 6, 2026 and ended on Feb 10, 2026. The allotment for PAN HR Solutions IPO was finalized on Feb 11, 2026. The shares got listed on BSE SME on Feb 13, 2026.
PAN HR Solutions IPO price band is set at ₹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 for investment in HNI is 3 lots (4,800 shares), amounting to ₹3,74,400.
Marwadi Chandarana Intermediaries Brokers Pvt.Ltd. is the book running lead manager and Maashitla Securities Pvt.Ltd. is the registrar of the issue. The Market Maker of the company is Giriraj Stock Broking Pvt.Ltd..
Refer to PAN HR Solutions IPO RHP for detailed Information.
IPO Open
Fri, Feb 6, 2026
IPO Close
Tue, Feb 10, 2026
Issue Price
₹78 per share
Market Cap (Pre-IPO)
₹56.25 Cr
| IPO Date | 6 to 10 Feb, 2026 |
| Listed on | Fri, Feb 13, 2026 |
| Face Value | ₹10 per share |
| Price Band | ₹74 to ₹78 |
| Issue Price | ₹78 per share |
| Lot Size | 1,600 Shares |
| Sale Type | Fresh Capital & OFS |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE SME |
| Total Issue Size | 21,84,000 shares (agg. up to ₹17 Cr) |
| Reserved for Market Maker | 3,79,200 shares Giriraj Stock Broking Pvt.Ltd. (agg. up to ₹3 Cr) |
| Fresh Issue (Ex Market Maker) | 14,20,800 shares (agg. up to ₹11 Cr) |
| Offer for Sale | 3,84,000 shares of ₹10 (agg. up to ₹3 Cr) |
| Net Offered to Public | 18,04,800 shares (agg. up to ₹14 Cr) |
| Share Holding Pre Issue | 54,11,058 shares |
| Share Holding Post Issue | 72,11,058 shares |
| BSE Script Code | 544698 |
| ISIN | INE1N9E01015 |
PAN HR Solutions IPO offers total 21,84,000 shares. Out of which 8,97,600 (41.10%) allocated to QIB, 3,60,000 (16.48%) allocated to QIB (Ex- Anchor), 2,73,600 (12.53%) allocated to NII 6,33,600 (29.01%) allocated to RII and 5,37,600 (24.62%) allocated to Anchor investors.
| Investor Category | Shares Offered |
|---|---|
| Market Maker Shares Offered | 3,79,200 (17.36%) |
| QIB Shares Offered | 8,97,600 (41.10%) |
| − Anchor Investor Shares Offered | 5,37,600 (24.62%) |
| − QIB (Ex. Anchor) Shares Offered | 3,60,000 (16.48%) |
| NII (HNI) Shares Offered | 2,73,600 (12.53%) |
| − bNII > ₹10L | 1,82,400 (8.35%) |
| − sNII < ₹10L | 91,200 (4.18%) |
| Retail Shares Offered | 6,33,600 (29.01%) |
| Total Shares Offered | 21,84,000 (100.00%) |
Investors can bid for a minimum of 3,200 shares and in multiples of 1,600 shares thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Individual investors (Retail) (Min) | 2 | 3,200 | ₹2,49,600 |
| Individual investors (Retail) (Max) | 2 | 3,200 | ₹2,49,600 |
| S-HNI (Min) | 3 | 4,800 | ₹3,74,400 |
| S-HNI (Max) | 8 | 12,800 | ₹9,98,400 |
| B-HNI (Min) | 9 | 14,400 | ₹11,23,200 |
PAN HR Solutions IPO raises ₹4.19 crore from anchor investors. PAN HR Solutions IPO Anchor bid date is February 5, 2026.
📝 Anchor Investors Letter (PDF)
| Bid Date | Thu, Feb 5, 2026 |
| Shares Offered | 5,37,600 |
| Anchor Portion (₹ Cr.) | 4.19 |
| Anchor lock-in period end date for 50% shares (30 Days) | Sat, Mar 14, 2026 |
| Anchor lock-in period end date for remaining shares (90 Days) | Thu, May 14, 2026 |
Incorporated in 2015, PAN HR Solutions offers human resource, staffing, payroll, facility management, compliance audits, and e-commerce logistics services.
The company operates on a B2B model and provides comprehensive manpower solutions, catering to a range of roles from unskilled to skilled blue-collar workers.
The company offer an end-to-end HR solution including recruitment, payroll management, compliance auditing, facility management, staffing solutions as a one-stop provider.
Service offerings:
As of November 30, 202, the company had employed 10,374personnel working at different client locations.
Competitive Strengths:
| Period Ended | 30 Nov 2025 | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|---|
| Assets | 43.72 | 36.06 | 42.31 | 37.07 |
| Total Income | 154.23 | 283.69 | 281.92 | 256.36 |
| Profit After Tax | 5.13 | 5.02 | 4.20 | 3.88 |
| EBITDA | 6.34 | 6.86 | 5.19 | 5.37 |
| NET Worth | 23.39 | 18.26 | 14.04 | 12.14 |
| Reserves and Surplus | 17.98 | 18.24 | 14.02 | 12.12 |
| Total Borrowing | 0.08 | 0.03 | 0.60 | |
| Amount in ₹ Crore | ||||
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Funding working capital requirements of the Company | 9.75 |
| 2 | General Corporate Purposes | 2.11 |
| Total | 11.86 |
| KPI | Nov 30, 2025 | Mar 31, 2025 |
|---|---|---|
| ROE | 24.64 | 31.05% |
| ROCE | 26.76% | 38.30% |
| RoNW | 21.94% | 27.47% |
| PAT Margin | 3.33% | 1.75% |
| EBITDA Margin | 4.12% | 2.42% |
| Price to Book Value | 2.11 | 2.32 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS Rs | 9.27 | 10.67 |
| P/E (x) | 8.41 | 7.31 |
| Promoter Holding | 90.92% | |
| Market Cap | ₹56.25 Cr. |
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Fees payable to the Book Running Lead Manager and commissions (including underwriting commission, brokerage and selling commission, as applicable) | 0.39 |
| 2 | Commission / processing fee for SCSBs, Bankers to the Offer and fee payable to the Sponsor Bank for Bids made by IBs. Brokerage, underwriting commission and selling commission and bidding charges for Members of the Syndicate, Registered Brokers, RTAs and CDP | 0.03 |
| 3 | Fees payable to Registrar to the Offer | 0.05 |
| 4 | Fee payable to Statutory Auditor & Market Maker | 0.13 |
| 5 | Advertising, selling and marketing expenses | 1.11 |
| 6 | Others i) Listing fees, upload fees, Stock Exchange processing fees, book building software fees and other regulatory expenses; ii) Printing and distribution of stationery; and iii) Fees payable to legal counsel | 0.14 |
| 7 | Miscellaneous (including Auditors, Practicing Company Secretaries fees payable for marketing & distribution and other professional agencies) | 0.81 |
| Total | 2.65 |
| Price Details | BSE SME |
|---|---|
| Final Issue Price | ₹78.00 |
| Open | ₹78.35 |
| Low | ₹78.00 |
| High | ₹80.00 |
| Last Trade | ₹78.01 |
Lead Manager Reports
PAN HR Solutions IPO is a SME IPO of 21,84,000 equity shares of the face value of ₹10 aggregating up to ₹17 Crores. The issue is priced at ₹78 per share. The minimum order quantity is 1600.
The IPO opens on Fri, Feb 6, 2026, and closes on Tue, Feb 10, 2026.
Maashitla Securities Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE SME.
Zerodha customers can apply online in PAN HR Solutions IPO using UPI as a payment gateway. Zerodha customers can apply in PAN HR Solutions IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in PAN HR Solutions IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The PAN HR Solutions IPO opens on Fri, Feb 6, 2026 and closes on Tue, Feb 10, 2026.
PAN HR Solutions IPO lot size is 1600, and the minimum amount required for application is ₹2,49,600, with 2 lots being the minimum application size.
You can apply in PAN HR Solutions IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for PAN HR Solutions IPO will be done on Wednesday, February 11, 2026, and the allotted shares will be credited to your demat account by Thu, Feb 12, 2026. Check the PAN HR Solutions IPO allotment status.
The PAN HR Solutions IPO listing date is on Fri, Feb 13, 2026.
