PAN HR Solutions IPO Day 3: Check GMP, subscription status, other key details as SME IPO ends today

PAN HR Solutions Day 3: The initial public offering (IPO) of PAN HR Solutions Ltd recieved strong demand so far. The SME IPO opened for public subscription on February 6 and will close today, Tuesday, February 10.

PAN HR Solutions IPO price band has been set in the range of ₹74-78 per share. At the upper-end of the price band, the company aims to raise ₹17.04 crore from the SME IPO, which is a mix of fresh shares and an offer for sale (OFS). The issue is a combination of fresh issue of 18 lakh shares aggregating to ₹14 crore and an offer for sale of 4 lakh shares aggregating to ₹3 crore.

The IPO allotment is expected on Wednesday, February 11, 2025, while successful applicants are likely to receive their shares on Thursday, February 12. Refunds for non-allottees will also be processed on the same day. The stock is scheduled to list on BSE SME with a tentative listing date of February 13, 2025.

The company proposed to utilise the net proceeds from the issue primarily to fund its working capital requirements, with an allocation of ₹9.75 crore. The remaining proceeds were to be used for the pre-payment or repayment of certain outstanding borrowings availed by the company, as well as for general corporate purposes.

The lot size is 1,600 shares, requiring a minimum retail investment of ₹2,49,600 (3200 shares, 2 lots) at the upper end of the price band.

Separately, the firm said it has raised ₹4.19 crore from anchor investors ahead of its initial share sale opening for public subscription on February 5.

Marwadi Chandarana Intermediaries Brokers is the book running lead manager and Maashitla Securities is the registrar of the issue. The Market Maker of the company is Giriraj Stock Broking.

Pan HR Solutions IPO GMP Today

Investor sentiment toward the Pan HR Solutions IPO remains muted, as seen in the grey market premium (GMP). Pan HR Solutions IPO GMP today is ₹0 per share. This suggested that the stock was likely to debut at ₹78, same as IPO price.

'Grey market premium' indicates investors' readiness to pay more than the issue price.

PAN HR Solutions IPO subscription status

PAN HR Solutions IPO has been subscribed 4.24 times, as per data available at 2:35 pm on February 10, the third and the last day of the bidding process. The retail portion was subscribed 3.90 times, and NII portion was booked 6 times, and the Qualified Institutional Buyers (QIBs) portion received 3.52 times bids so far.

The company has received bids for 53.79 lakh shares against 12.67 lakh shares on offer so far.

About PAN HR Solutions

Incorporated in 2015, PAN HR Solutions provides a wide range of human resource services, including staffing, payroll management, facility management, compliance audits and e-commerce logistics support.

Operating on a B2B model, the company delivers end-to-end manpower solutions across multiple industries, catering to roles ranging from unskilled to skilled blue-collar workers.

As a one-stop service provider, PAN HR Solutions offers comprehensive HR solutions encompassing recruitment, staffing, payroll administration, compliance management and facility services.

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