Marushika Technology IPO Shows Strong Response, Subscribed 17.93x on Day 3
PAN HR Solutions IPO Shows Strong Response, Subscribed 11.85x on Day 3
Last Updated: 10th February 2026 - 06:00 pm
PAN HR Solutions Limited's initial public offering (IPO) has demonstrated strong investor interest through its third and final day of subscription. The stock price band is set at ₹74-78 per share. The ₹17.04 crore IPO reached 11.85 times by 4:36:01 PM on day three. This indicates strong investor interest in this company that offers human resource, staffing, payroll, facility management, compliance audits, and e-commerce logistics services, incorporated in 2015.
PAN HR Solutions IPO subscription reached strong 11.85 times on day three. It was led by Non-Institutional Investors (25.41x), Individual Investors (8.99x), and Qualified Institutional Buyers Ex-Anchor (6.57x). Total applications reached 2,485.
Subscription Status of PAN HR Solutions IPO:
| Date | QIB (Ex Anchor) | NII | Individual | Total |
|---|---|---|---|---|
| Day 1 (February 6) | 3.52 | 0.02 | 0.11 | 1.06 |
| Day 2 (February 9) | 3.52 | 0.57 | 0.72 | 1.48 |
| Day 3 (February 10) | 6.57 | 25.41 | 8.99 | 11.85 |
Here are the subscription details for PAN HR Solutions IPO as of Day 3 (February 10, 2026, 4:36:01 PM):
| Investor Category | Subscription (times) | Shares Offered | Shares bid for | Total Amount (₹ Cr.) |
|---|---|---|---|---|
| Anchor Investor | 1.00 | 5,37,600 | 5,37,600 | 4.19 |
|
QIB (Ex Anchor) |
6.57 | 3,60,000 | 23,64,800 | 18.45 |
| Non-Institutional Buyers | 25.41 | 2,73,600 | 69,52,000 | 54.23 |
| Individual Investors | 8.99 | 6,33,600 | 56,99,200 | 44.45 |
| Total | 11.85 | 12,67,200 | 1,50,16,000 | 117.13 |
Key Highlights - Day 3:
- Overall subscription reached strong 11.85 times, showing substantial improvement from day two's 1.48 times
- Non-institutional investors displaying exceptional interest at 25.41 times, building dramatically from day two's 0.57 times, indicating unprecedented HNI demand for this HR solutions provider
- Individual investors showing exceptional confidence at 8.99 times, building substantially from day two's 0.72 times, indicating strong retail demand for this SME IPO
- Qualified institutional buyers (ex-anchor) displaying moderate performance at 6.57 times, building substantially from day two's 3.52 times, indicating improved institutional appetite
- Total applications reached 2,485, showing limited investor participation for this SME IPO
- Cumulative bid amount reached ₹117.13 crores, significantly exceeding the net offer size of ₹14.08 crores (excluding anchor and market maker portions) by approximately 8 times
- Anchor investors fully subscribed their allocation of ₹4.19 crores on February 5, 2026
- Market makers fully subscribed their allocation of ₹2.96 crores
- PAN HR Solutions IPO - Day 2 Subscription at 1.48 Times
Key Highlights - Day 2:
- Overall subscription reached moderate 1.48 times, showing modest improvement from day one's 1.06 times
- Qualified institutional buyers displaying moderate performance at 3.52 times, unchanged from day one's 3.52 times
- Individual investors showing weak confidence at 0.72 times, building substantially from day one's 0.11 times
- Non-institutional investors showing weak performance at 0.57 times, building substantially from day one's 0.02 times
- PAN HR Solutions IPO - Day 1 Subscription at 1.06 Times
Key Highlights - Day 1:
- Overall subscription reached moderate 1.06 times, showing cautious initial investor interest
- Qualified institutional buyers displaying moderate performance at 3.52 times, indicating measured institutional interest
- Individual investors showing weak confidence at 0.11 times, indicating weak retail appetite
- Non-institutional investors showing negligible performance at 0.02 times, indicating very weak HNI interest
About PAN HR Solutions Limited
Incorporated in 2015, PAN HR Solutions offers human resource, staffing, payroll, facility management, compliance audits, and e-commerce logistics services. The company operates on a B2B model and provides comprehensive manpower solutions, catering to a range of roles from unskilled to skilled blue-collar workers. The company offers an end-to-end HR solution including recruitment, payroll management, compliance auditing, facility management, and staffing solutions as a one-stop provider.
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