PAN HR Solution Ltd IPO
Miscellaneous
Price Band
₹74 – ₹78
Lot Size
1600
Minimum Bid Quantity
3200
Minimum Investment
₹249600
Issue Size
₹17.04Cr
Opens
2026-02-06
Closes
2026-02-10
Listing
13-02-2026
Subscription Status
Qualified Institutional Buyers
3.52 x
Non-Institutional Investor
0.01 x
Retail Individual Investor
0.11 x
Total
0.81 x
IPO Details
Issue Type
FP
Face Value
₹10
Tick Size
1
ISIN
INE1N9E01015
Pre-Apply Available
No
Daily Bidding Time
10:00:00 - 17:00:00
About the Company
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.
Pros
- • 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.
Cons
- • 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.
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