PAN HR Solutions IPO
Live Updates, GMP, Subscription Data, and Financial Details
IPO Overview
Listed
Dates
Feb 06 to Feb 10 2026
Price Band
₹74 - 78
Current GMP
₹2600.0 (+20.09%)
Subscription
11.85 times
IPO Details
| IPO Date | 6 to 10 Feb, 2026 |
| Listing Date | Fri, Feb 13, 2026 T |
| 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 (agg. up to ₹ 3 Cr) Giriraj Stock Broking Pvt.Ltd. |
| 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 |
IPO Date
6 to 10 Feb, 2026
Listing Date
Fri, Feb 13, 2026 T
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 (agg. up to ₹ 3 Cr) Giriraj Stock Broking Pvt.Ltd.
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
IPO Subscription Details
| Anchor | 1 |
| Market Maker | 1 |
| QIB (Ex Anchor) | 6.57 |
| NII*** | 25.41 |
| bNII (> ₹10L) | 37.15 |
| sNII (< ₹10L) | 12.93 |
| Individual Investors | 8.99 |
| Total ** | 11.85 |
Anchor
1
Market Maker
1
QIB (Ex Anchor)
6.57
NII***
25.41
bNII (> ₹10L)
37.15
sNII (< ₹10L)
12.93
Individual Investors
8.99
Total **
11.85
Day Wise Sub
| Day | QIB (Ex Anchor) | NII* | NII (> ₹10L) | NII (< ₹10L) | Individual Investors | Total |
|---|---|---|---|---|---|---|
| Feb 6 (Day 1) | 3.52 | 0.02 | 0.00 | 0.05 | 0.11 | 1.06 |
| Feb 9 (Day 2) | 3.52 | 0.57 | 0.93 | 0.12 | 0.72 | 1.48 |
| Feb 1 0 (Day 3) | 6.57 | 25.41 | 37.15 | 12.93 | 8.99 | 11.85 |
DayFeb 6
(Day 1)
QIB (Ex Anchor)3.52
NII*0.02
NII (> ₹10L)0.00
NII (< ₹10L)0.05
Individual Investors0.11
Total1.06
DayFeb 9
(Day 2)
QIB (Ex Anchor)3.52
NII*0.57
NII (> ₹10L)0.93
NII (< ₹10L)0.12
Individual Investors0.72
Total1.48
DayFeb 1
0 (Day 3)
QIB (Ex Anchor)6.57
NII*25.41
NII (> ₹10L)37.15
NII (< ₹10L)12.93
Individual Investors8.99
Total11.85
Day Wise GMP
| Date | Price | GMP | Estimate List Price |
|---|---|---|---|
| 13-02-2026 | 78.00 | 0(0.00%) | 78 |
| 12-02-2026 | 78.00 | 0(0.00%) | 78 |
| 11-02-2026 | 78.00 | 0(0.00%) | 78 |
| 10-02-2026 | 78.00 | 0(0.00%) | 78 |
| 09-02-2026 | 78.00 | 0(0.00%) | 78 |
| 08-02-2026 | 78.00 | 0(0.00%) | 78 |
| 07-02-2026 | 78.00 | 0(0.00%) | 78 |
| 06-02-2026 | 78.00 | 0(0.00%) | 78 |
| 05-02-2026 | 78.00 | 0(0.00%) | 78 |
| 04-02-2026 | 78.00 | 0(0.00%) | 78 |
| 03-02-2026 | 78.00 | 0(0.00%) | 78 |
Date13-02-2026
Price78.00
GMP0(0.00%)
Estimate List Price78
Date12-02-2026
Price78.00
GMP0(0.00%)
Estimate List Price78
Date11-02-2026
Price78.00
GMP0(0.00%)
Estimate List Price78
Date10-02-2026
Price78.00
GMP0(0.00%)
Estimate List Price78
Date09-02-2026
Price78.00
GMP0(0.00%)
Estimate List Price78
Date08-02-2026
Price78.00
GMP0(0.00%)
Estimate List Price78
Date07-02-2026
Price78.00
GMP0(0.00%)
Estimate List Price78
Date06-02-2026
Price78.00
GMP0(0.00%)
Estimate List Price78
Date05-02-2026
Price78.00
GMP0(0.00%)
Estimate List Price78
Date04-02-2026
Price78.00
GMP0(0.00%)
Estimate List Price78
Date03-02-2026
Price78.00
GMP0(0.00%)
Estimate List Price78
IPO Important Dates
| IPO Open | Fri, Feb 6, 2026 |
| IPO Close | Tue, Feb 10, 2026 |
| Allotment | Wed, Feb 11, 2026 |
| Refund | Thu, Feb 12, 2026 |
| Credit of Shares | Thu, Feb 12, 2026 |
| Listing | Fri, Feb 13, 2026 |
IPO Open
Fri, Feb 6, 2026
IPO Close
Tue, Feb 10, 2026
Allotment
Wed, Feb 11, 2026
Refund
Thu, Feb 12, 2026
Credit of Shares
Thu, Feb 12, 2026
Listing
Fri, Feb 13, 2026
IPO Lot Size
| 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 |
ApplicationIndividual investors (Retail) (Min)
Lots2
Shares3,200
Amount₹2,49,600
ApplicationIndividual investors (Retail) (Max)
Lots2
Shares3,200
Amount₹2,49,600
ApplicationS-HNI (Min)
Lots3
Shares4,800
Amount₹3,74,400
ApplicationS-HNI (Max)
Lots8
Shares12,800
Amount₹9,98,400
ApplicationB-HNI (Min)
Lots9
Shares14,400
Amount₹11,23,200
Key Performance Indicator
| ROE | 24.64 |
| ROCE | 26.76% |
| RoNW | 21.94% |
| PAT Margin | 3.33% |
| EBITDA Margin | 4.12% |
| Price to Book Value | 2.11 |
ROE
24.64
ROCE
26.76%
RoNW
21.94%
PAT Margin
3.33%
EBITDA Margin
4.12%
Price to Book Value
2.11
Peers Comparison
| Company Name | EPS (Basic) | EPS (Diluted) | NAV (₹ per share) | P/E (x) | RoNW (%) | P/BV Ratio |
|---|---|---|---|---|---|---|
| PAN HR Solutions Ltd. | 10.17 | 10.17 | 37.01 | 27.47 | ||
| Itcons ESolutions Ltd. | 6.43 | 3.17 | 73.80 | 63.20 | 8.76 | 5.56 |
| Happy Square Outsourcing Services Ltd. | 7.07 | 7.07 | 14.84 | 8.27 | 47.64 | 4.14 |
| Spectrum Talent Management Ltd. | 3.13 | 2.94 | 66.38 | 24.39 | 4.72 | 1.15 |
Company NamePAN HR Solutions Ltd.
EPS (Basic)10.17
EPS (Diluted)10.17
NAV (₹ per share)37.01
P/E (x)
RoNW (%)27.47
P/BV Ratio
Company NameItcons ESolutions Ltd.
EPS (Basic)6.43
EPS (Diluted)3.17
NAV (₹ per share)73.80
P/E (x)63.20
RoNW (%)8.76
P/BV Ratio5.56
Company NameHappy Square Outsourcing Services Ltd.
EPS (Basic)7.07
EPS (Diluted)7.07
NAV (₹ per share)14.84
P/E (x)8.27
RoNW (%)47.64
P/BV Ratio4.14
Company NameSpectrum Talent Management Ltd.
EPS (Basic)3.13
EPS (Diluted)2.94
NAV (₹ per share)66.38
P/E (x)24.39
RoNW (%)4.72
P/BV Ratio1.15
IPO Reservation
| 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 | 1,55,400 (7.12%) |
| − sNII < ₹10L | 91,200 (4.18%) |
| Retail Shares Offered | 6,33,600 (29.01%) |
| Total Shares Offered | 21,84,000 (100.00%) |
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
1,55,400 (7.12%)
− sNII < ₹10L
91,200 (4.18%)
Retail Shares Offered
6,33,600 (29.01%)
Total Shares Offered
21,84,000 (100.00%)
Information about company
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:
Objectives of IPO
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 Pre-payment or repayment of certain outstanding borrowings availed by Company 3 General Corporate Purposes
Disclaimer
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