PAN HR Solutions IPO 2026: Price Band, GMP, Subscription & Listing Details

The PAN HR Solutions IPO 2026 opened for subscription on 📅 6 February 2026, marking another key entry in the Indian SME IPO market. The company, which operates as a business‑to‑business human resources and staffing solutions provider, set out to raise approximately ₹17.04 crore through a combination of fresh equity and offer for sale, attracting interest from investors focusing on smaller market cap offerings.

The IPO was launched with a price band of ₹74 to ₹78 per share, and investors could apply in multiples of 1,600 shares, making the minimum investment at the upper end of the band around ₹2,49,600 for retail individual investors. The structure of the offer included a fresh issue of ₹14.04 crore and an offer for sale worth ₹3 crore, reflecting a balanced mix of capital raise and shareholder liquidity.

PAN HR Solutions caters to a wide range of HR services, with offerings spanning workforce staffing, payroll management, facility management, compliance auditing and logistics staffing. Founded in 2015, the company has developed a strong presence across sectors that require significant on‑ground workforce solutions, such as logistics, e‑commerce, manufacturing and IT services. Its business model focuses on providing end‑to‑end HR and manpower solutions to corporate clients, helping them manage large workforces efficiently.

As the subscription window progressed, market watchers closely observed Grey Market Premium (GMP) trends as an unofficial sentiment indicator. However, reports indicated that as of the initial days of bidding, the PAN HR Solutions IPO GMP remained flat at ₹0, suggesting limited speculative demand and muted expectations for significant listing gains above the IPO price range. Such a flat GMP often signals that investors are primarily weighing fundamentals rather than short‑term listing profits.

The subscription period remained open until 📅 10 February 2026, and shortly after the close of bidding, attention shifted to the allotment process, an important milestone for applicants waiting to see if they would receive shares. According to the IPO timetable, the basis of allotment was scheduled for 11 February 2026, followed by refunds on 📅 12 February 2026 for unsuccessful applicants and the crediting of shares to successful investors’ Demat accounts on the same day. The IPO was set to list on the BSE SME platform on 13 February 2026, giving investors the opportunity to begin trading their allotments publicly thereafter.

Investors also monitored subscription trends across investor categories during the IPO period. Unlike larger mainboard IPOs, SME issues frequently have more variable subscription patterns, influenced by investor perception, sector interest, and general market conditions. In this case, early indications showed modest subscription figures that reflected steady interest but not overwhelming oversubscription; combined with a flat GMP, the sentiment was cautious and fundamentals‑focused.

Financially, PAN HR Solutions had reported a total income of over ₹154 crore and a profit after tax of around ₹5.13 crore for the period ending 30 November 2025, underscoring consistent revenue generation leading up to the IPO. The company intended to use the funds raised mainly for working capital requirements, debt repayment, and strengthening its overall balance sheet to support future business expansion.

In summary, the PAN HR Solutions IPO 2026 offered investors exposure to a B2B services business operating in the rapidly evolving HR and staffing sector. With clearly defined dates for subscription, allotment and listing — and a flat GMP signal suggesting measured market sentiment — prospective investors assessed the IPO based on business fundamentals, future growth potential and overall SME market conditions.