PAN HR Solutions IPO

Incorporated in 2015, Pan HR Solution provides comprehensive manpower solutions for unskilled to skilled blue-collar workers throughout India. The company primarily operates on a B2B model, offering staffing, human resource support, and meeting compliance needs. Pan HR's clientele spans various industries such as e-commerce, logistics, manufacturing, IT, and others. The company follows a "collect and pay" model whereby it collects money from the clients and pays the workers.

As of November 30, 2025, it had 10,374 workers deployed, compared to 9,481 in FY25, 9,467 in FY24, and 9,884 in FY23. Most of the labour force is engaged in the e-commerce industry, which had 8,780 workers as of November 2025. This is followed by logistics with 855 workers, manufacturing with 43 workers and infrastructure and other sectors with 696 workers.

E-commerce remains a primary source of revenue for the company. As of Nov 2025, e-commerce contributed ₹131.23 crore or nearly 85% of total operating revenue. Infrastructure and other sectors gave ₹14.51 crore (about 9%), and logistics ₹7.49 crore (about 5%). Among states, Haryana was the highest contributor, accounting for ₹30.44 crore or almost 20% of total revenue.