PAN HR Solution IPO

PAN HR Solution Ltd

₹2,36,800 /1600 sharesMinimum Investment

PAN HR Solution IPO listing details

Listed onIssue priceListing priceListing gains
--₹78.00₹78.35₹0.35 (0.45%)

PAN HR Solution IPO Details

Bidding datesMinimum investmentLot sizePrice range
6 Feb ‘26 - 10 Feb ‘26₹2,36,8001,600₹74 - ₹78
Issue sizeIPO docTentative allotment dateTentative listing date
17.04 Cr
RHP PDF
11 Feb ‘2613 Feb ‘26
Face value
10

Subscription rate

As of 10 Feb'26, 04:31 PM
Qualified Institutional Buyers3.52x
Non-Institutional Investor0.01x
Retail Individual Investor0.11x
Total0.81x

About PAN HR Solution

Pan HR Solution Limited is a B2B company engaged in providing manpower and human resource–related services across multiple sectors. The company offers manpower services covering unskilled to skilled blue-collar workers, along with payroll services, staffing solutions, facility management, compliance audit, and e-commerce logistics support. As part of its facility management services, it supplies personnel such as housekeeping staff, pantry boys, office assistants, and other support staff. Pan HR Solution operates primarily under a ‘Collect and Pay’ model, where it invoices clients for services and disburses payments to deployed personnel. As of November 30, 2025, the company had 10,374 personnel deployed at client locations. Pan HR Solution operates on a pan-India basis and serves customers across sectors, including e-commerce, logistics, manufacturing, and information technology. The company was incorporated in 2015 in Uttar Pradesh and was converted into a public limited company in 2025.;
Founded in
2015
MD/CEO
Mr Rajeev Kumar
Parent organisation
PAN HR Solution Ltd

Strengths & Risks of PAN HR Solution

Strengths
Risks
Pan HR Solution claims to manage a large workforce deployed across multiple locations in India. It deployed 10,374 personnel as of November 30, 2025. The company states that workforce allocation is based on client requirements and is overseen by a supervisory team responsible for monitoring attendance and productivity.
The company claims to comply with statutory requirements such as GST, provident fund, ESIC, and applicable labour laws for its employees. It also states that it monitors amendments to labour regulations and aligns its processes accordingly. This approach is intended to reduce compliance-related risks and support continuity in service delivery.
Pan HR Solution claims to offer end-to-end human resource services, including recruitment, payroll management, compliance auditing, facility management, and staffing solutions. The company positions itself as a single service provider for multiple HR-related requirements across client operations.
The company has witnessed a consistent increase in its revenue from operations and profit after tax (PAT). Revenue from operations increased from Rs 256.10 crore in FY23 to Rs 281.08 crore in FY24 and Rs 283.19 crore in FY25. PAT increased from Rs 3.88 crore in FY23 to Rs 4.20 crore in FY24 and Rs 5.01 crore in FY25.
The top customer accounted for Rs 125.03 crore (81.20 percent) of the company’s revenue for the period ended November 30, 2025; Rs 194.18 crore (68.57 percent) in FY25; Rs 167.25 crore (59.50 percent) in FY24, and Rs 165.14 crore (64.48 percent) in FY23. Failure to retain this key customer, reduction in service volumes, delays or defaults in payments, or loss of business from this client could hurt the company’s business, results of operations, and financial condition.
Haryana accounted for Rs 30.44 crore (19.77 percent) of the company’s revenue for the period ended November 30, 2025; Rs 49.97 crore (17.64 percent) in FY25; Rs 56.68 crore (20.17 percent) in FY24, and Rs 38.41 crore (15.00 percent) in FY23. Adverse developments in this region, including higher competition, regulatory changes, economic slowdowns, or demographic shifts, could hurt the company’s business, results of operations, and financial condition.
E-commerce accounted for Rs 131.23 crore (85.22 percent) of the company’s revenue for the period ended November 30, 2025; Rs 241.03 crore (85.11 percent) in FY25; Rs 226.83 crore (80.70 percent) in FY24, and Rs 211.17 crore (82.46 percent) in FY23. Any downturn in the e-commerce industry, loss of customers from this sector, pricing pressures, or substitution of services by competitors could adversely affect the company’s business, results of operations, and financial condition.
The company reported negative cash flow from operating activities amounting to Rs 0.09 crore for the period ended November 30, 2025. Additionally, negative cash flow from investing activities amounted to Rs 0.58 crore for the period ended November 30, 2025; Rs 1.28 crore in FY25; Rs 2.02 crore in FY24, and Rs 1.57 crore in FY23. The company also reported negative cash flow from financing activities amounting to Rs 0.89 crore in FY25; Rs 2.90 crore in FY24, and Rs 0.19 crore in FY23. If cash outflows from investing and financing activities continue to exceed inflows, the company may face liquidity constraints, which could adversely affect its business operations and financial condition.
The company is involved in certain ongoing legal proceedings. The company’s business prospects could be hit in case of adverse judgments in any of these cases.

PAN HR Solution Financials

*All values are in Rs. Cr
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Application Details of PAN HR Solution IPO

Apply asPrice bandApply RangeLot size
Individual investor74 - 78₹2 - 5 Lakh1600
For PAN HR Solution IPO, eligible investors can apply as Individual investor.