PAN HR Solutions IPO Listing: PAN HR Solutions share price made a muted debut in the Indian stock market today, February 13. PAN HR Solutions share price was listed on Friday at ₹78.35 apiece on BSE SME, a premium of just 0.44% from its issue price of ₹78.
The PAN HR IPO outperformed Street expectations, as seen from the gray market premium (GMP). The GMP for the IPO stood at ₹0 per share, which indicated a likely listing price of ₹78, same as issue.
PAN HR Solutions IPO Subscription Status
PAN HR IPO witnessed strong subscription in the 3 days of bidding. It was subscribed 11.85 times by the end of Day 3. The retail portion was subscribed 8.99 times, the NII portion was booked 25.41 times, and the Qualified Institutional Buyers (QIBs) segment received 6.57 times bids.
The company received bids for 1.50 crore shares against 12.67 lakh shares on offer.
PAN HR Solutions IPO Details
The SME IPO opened for subscription on February 6 and closed on February 10, with the allotment finalized on February 11.
PAN HR Solutions IPO was priced in the range of ₹74-78 per share. At the upper end of the band, the company aimed to raise ₹17.04 crore through the SME IPO, which comprised a mix of a fresh issue and an offer for sale (OFS). The issue included a fresh issue of 18 lakh shares aggregating to ₹14 crore and an OFS of 4 lakh shares aggregating to ₹3 crores.
The company proposed to deploy the net proceeds primarily towards working capital requirements, earmarking ₹9.75 crore for this purpose. The balance was to be utilized for the prepayment or repayment of certain outstanding borrowings, along with general corporate purposes.
The lot size was fixed at 1,600 shares, with retail investors required to apply for a minimum of two lots, or 3,200 shares, translating into an investment of ₹2,49,600 at the upper end of the price band.
Separately, the company said it had raised ₹4.19 crore from anchor investors ahead of the issue opening for public subscription on February 5.
Marwadi Chandarana Intermediaries Brokers acted as the book running lead manager for the issue, while Maashitla Securities was appointed as the registrar. Giriraj Stock Broking served as the market maker.
About PAN HR Solutions
Incorporated in 2015, PAN HR Solutions offers a comprehensive suite of human resource services, including staffing, payroll processing, facility management, compliance audits and e-commerce logistics support.
The company operates on a B2B model and provides end-to-end manpower solutions across various industries, catering to both unskilled and skilled blue-collar roles.
Positioned as a one-stop HR solutions provider, PAN HR Solutions delivers services spanning recruitment, staffing, payroll administration, compliance management and facility services.
