The IPO is priced in a band of Rs 74 to Rs 78 per share. Retail investors are required to apply for a minimum of 3,200 shares, translating into an investment of Rs 2,49,600 at the upper end of the price band.
Incorporated in 2015, PAN HR Solutions operates as a business-to-business human resources services provider, offering end-to-end manpower and workforce management solutions. Its services span recruitment, staffing, payroll processing, facility management, compliance audits and logistics staffing, catering largely to blue-collar and semi-skilled workforce requirements across industries. The company positions itself as a one-stop solution for clients seeking outsourced HR and staffing services.
As of November 30, 2025, PAN HR Solutions had deployed a workforce of more than 10,300 personnel across various client locations. The company’s scale in workforce deployment and compliance-focused service delivery form the core of its operating model, particularly in sectors that require large on-ground staffing and regulatory adherence.
On the financial front, PAN HR Solutions has reported stable performance over the years. For the period ended November 30, 2025, the company posted total income of Rs 154.23 crore and a profit after tax of Rs 5.13 crore. This compares with total income of Rs 283.69 crore and PAT of Rs 5.02 crore in FY25. EBITDA stood at Rs 6.34 crore for the November 2025 period.
The proceeds from the fresh issue will be primarily used to fund working capital requirements, prepay or repay certain borrowings, and for general corporate purposes. Post-issue, promoter shareholding will decline as new equity is issued, while the company aims to strengthen its balance sheet to support future expansion.
The issue is being managed by Marwadi Chandarana Intermediaries Brokers, with Maashitla Securities acting as the registrar. Giriraj Stock Broking has been appointed as the market maker for the IPO.While the company operates in a steady and compliance-driven services segment, the absence of a grey market premium suggests investors are approaching the issue cautiously, weighing the business model and valuations against broader market conditions as the subscription window opens.