PAN HR Solutions IPO: GMP flat, retail investors can skip
PAN HR Solutions just launched its IPO, aiming to raise ₹17.04 crore with shares priced at ₹74-78 each.
The gray market premium is flat at 0%, so don't expect a big listing pop.
Focusing on blue-collar staffing
Started in 2015, PAN HR Solutions helps businesses hire blue-collar workers for sectors like e-commerce, logistics, and manufacturing.
They have primarily followed a "Collect and Pay" model and are gradually implementing a "Pay and Collect" model, and provide logistics staffing.
By November 2025, they had over 10,300 people working through their network.
IPO details and financials
The IPO is open until February 10 with a lot size of 1,600 shares (₹1,24,800), though the retail minimum application is 2 lots (3,200 shares, ₹2,49,600 at the upper band).
Shares will be allotted on February 11 and listed on BSE SME by February 13.
Last year, the company made ₹283.69 crore in revenue with a profit of ₹5.02 crore—the funds raised will mostly go toward working capital and paying off some debt.