Recode Studios Limited
ListedSMEConsumer Discretionary · BSE
Recode Studio, incorporated in 2021, is an Indian beauty and personal care company operating under the brand “Recode,” offering over 350 SKUs across makeup, skincare, body care, and beauty accessories. The company sells its products through an omnichannel network that includes company-owned stores (COCO), franchise stores (FOFO), third-party e-commerce platforms, and its own website and app, with offline sales via COCO and FOFO stores and online sales through platforms like Amazon, Nykaa, Myntra, and Flipkart. As of September 30, 2025, it operates 24 stores across 14 states, comprising 3 COCO and 21 FOFO stores, with all products manufactured by third-party manufacturers in India.
Price Band
₹150 – ₹158
Issue Size
₹282.24 L Cr
Lot Size
800 shares
GMP
₹35
+22.1%
Est. Listing
₹193
at current GMP
Subscribed
234.71x
overall
Open
5 May 2026
Close
7 May 2026
Allotment
8 May 2026
Refund
9 May 2026
Demat Credit
10 May 2026
Listing
12 May 2026
Last updated 5 months ago
Overall Subscription
234.71x
Total Demand
QIB Multiplier
137.99x
Institutions & Funds
NII / HNI
405.12x
High Net-Worth
Retail (RII)
216.65x
Individual Bidders
Category-Wise Subscription Breakup
Live bidding breakdown by institutional, non-institutional, and retail investors
| Category | Shares Offered | Shares Applied / Bid | Times Subscribed |
|---|---|---|---|
| QIB | 535,200 | 73,849,600 | 137.99x |
| NIB | 403,200 | 163,343,200 | 405.12x |
| HNIs(10L +) | 268,800 | 130,653,600 | 486.06x |
| HNIs (2-10L) | 134,400 | 32,689,600 | 243.23x |
| RETAIL | 937,600 | 203,128,000 | 216.65x |
| Total | 2,279,200 | 603,664,000 | 234.71x |
Application-Wise Breakup
Total unique applications received across retail and HNI tranches
| Category | Applications Reserved | Applications Received | Times Subscribed |
|---|---|---|---|
| QIB | — | 117 | 0.00x |
| NIB | — | 32,135 | 0.00x |
| RETAIL | 586 | 126,955 | 216.65x |
| EMPLOYEES | — | — | 0.00x |
| HNIs(10L +) | 112 | 19,325 | 172.54x |
| HNIs (2-10L) | 56 | 12,810 | 228.75x |
| Shareholder | — | — | 0.00x |
| Total Applications | 754 | 191,342 | 253.77x |
Day-Wise Subscription Progress
About Recode Studios Limited Public Issue & Market Profile
Recode Studios Limited is bringing an initial public offering (IPO) in the Consumer Discretionary sector with an aggregate issue size of ₹28,22,400 Crores. The shares are offered at a price band of ₹150 to ₹158 per equity share on BSE. Currently, grey market participants and retail investors are watching the bidding trend, premium movement, and anchor book demand with keen interest.
Bidding & Quota Instructions:
Prospective investors can apply in the retail quota with a minimum of 1 lot comprising 800 shares (approx. ₹1,26,400 minimum investment). High net-worth individuals (HNI/NII) can bid in the sHNI (₹2 Lakh to ₹10 Lakh) or bHNI (above ₹10 Lakh) categories for enhanced quota allocation.
Allotment Reconciliation Schedule:
Allotment reconciliation will be managed by Mudra RTA Ventures Private Limited. Eligible allottees will receive credit of equity shares into their Demat accounts by 2026-05-10, while un-allotted funds or UPI block mandates will be released on 2026-05-09.
Frequently Asked Questions
What is the issue size and price band for Recode Studios Limited IPO?
The Recode Studios Limited IPO aggregate issue size is ₹28,22,400 Crores with an equity price band set at ₹150 to ₹158 per equity share. The retail lot size is 800 shares requiring a minimum capital outlay of approx. ₹1,26,400.
How can I check Recode Studios Limited IPO live subscription demand?
Live subscription figures are compiled real-time from the NSE and BSE bidding engines. You can track QIB, NII/HNI, and Retail category multiples directly on our dedicated live subscription page.
Where will Recode Studios Limited IPO allotment status be published?
The basis of allotment will be published on the official registrar portal (Mudra RTA Ventures Private Limited) and the BSE status verification website on or around 2026-05-08.