PAN HR Solutions IPO
Market Sentiment
Market Lot Size
IPO Details
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Financial Analysis
| Metric | 2023 | 2024 | 2025 | Nov 2025 |
|---|---|---|---|---|
| Revenue | 256.36 | 281.92 | 283.69 | 154.23 |
| Expense | 250.99 | 276.28 | 276.76 | 147.97 |
| Profit (PAT) | 3.88 | 4.20 | 5.02 | 5.13 |
| Total Assets | 37.07 | 42.31 | 36.06 | 43.72 |
| Company | P/E | EPS | Market Cap (Cr) |
|---|---|---|---|
| Itcons ESolutions Limited | 63.20 | 6.43 | 9 |
| Happy Square Outsourcing Services Limited | 8.27 | 7.07 | 48 |
| Spectrum Talent Management Limited | 24.39 | 3.13 | 5 |
Promoters: Rajeev Kumar and Rajni Kumari
| Shareholding | No. of Shares | Holding % |
|---|---|---|
| Promoter Holding Pre Issue | 54,11,058 | 90.92% |
Company Information
PAN HR Solutions was founded in 2015 and started providing a wide range of services, including human resources, staffing, payroll management, facility management, compliance audits, and e-commerce logistics. The company operates on a B2B model, offering complete manpower solutions for businesses. It caters to various roles, covering everything from unskilled labor to skilled blue-collar workers.Moreover, the company also has a unique strength, such as Manpower Services and Payroll Services, facility Management, Staffing Solution, Compliance Audit.
| Purpose | Amount (Cr) |
|---|---|
| Funding working capital requirements of the Company | 9.75 |
| Pre-payment or repayment of certain outstanding borrowings availed by Company | - |
| General Corporate Purposes | - |
Resources & Documents
PAN HR Solutions Ltd., A – 42/03, Second floor, Sector-62,, Gautam Buddha Nagar, Noida, Uttar Pradesh, 201301
PAN HR Solutions has set a price band of Rs 75–Rs 78 per share for an issue size of Rs 17 crore in the staffing & hr sector. The stock listed with a 0.45% gain versus its issue price on February 13, 2026.
PAN HR Solutions was founded in 2015 and started providing a wide range of services, including human resources, staffing, payroll management, facility management, compliance audits, and e-commerce logistics. The company operates on a B2B model, offering complete manpower solutions for businesses. The company operates in the staffing & hr space.
The issue is promoted by Rajeev Kumar and Rajni Kumari with Marwadi Chandarana Intermediaries Brokers Pvt. Ltd. acting as lead manager. Net proceeds will primarily be used towards Funding working capital requirements of the Company (Rs 10 crore) and Pre-payment or repayment of certain outstanding borrowings availed by Company.
Current grey market activity shows a flat premium, indicating muted unofficial demand. Final subscription data records overall subscription at 12.36x, retail at 9.40x, QIB at 6.57x, NII at 26.83x.
On fundamentals, the company is posting revenue growth of 0.6%, a profit margin of 1.8%, return on equity of 31.1% in its most recent reported period. Listed peers in this segment include Happy Square Outsourcing Services Limited (P/E 8.27x, market cap Rs 48 crore) and Itcons ESolutions Limited (P/E 63.20x, market cap Rs 9 crore) — useful reference points when evaluating the issue's pricing relative to where the broader sector are trading.
Our data-driven engine currently flags this issue as a Neutral stance — the data is mixed and the risk-reward is balanced rather than one-sided. Past performance does not predict future returns — review the price chart and peer comparison below before trading.
Understanding Grey Market Premium (GMP)
The Grey Market Premium (GMP) is an unofficial indicator of how an IPO's shares are trading in the grey market before they are officially listed on a stock exchange. It reflects investor sentiment and demand for the IPO shares ahead of listing day.
How does it work? The grey market is an informal, over-the-counter market where investors buy and sell IPO shares before the official listing date. If an IPO has a positive GMP, it suggests that investors expect the stock to list above its issue price. A negative GMP indicates expectations of a listing below the issue price.
Example: If an IPO has an issue price of ₹100 and the GMP is ₹50, the expected listing price would be approximately ₹150 (issue price + GMP). This translates to an estimated listing gain of 50%.
Factors that influence GMP:
- Subscription levels — Higher subscription typically drives GMP up
- Market conditions — Bullish markets tend to boost GMP across all IPOs
- Company fundamentals — Strong financials and growth potential attract premium
- Industry sentiment — Positive outlook for the sector can increase demand
- IPO pricing — Reasonably priced IPOs relative to peers tend to command higher GMP
Disclaimer: GMP is an unofficial metric from the grey market and is not regulated by SEBI or any stock exchange. GMP values fluctuate frequently and should not be the sole basis for investment decisions. Always consider company fundamentals, financial health, and your own risk appetite before investing in any IPO.
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