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RECODE · BSE · Cosmetic sector
Recode Studios IPO listed on 12 May 2026 on BSE at ₹213.10, a gain of 34.87% over the issue price of ₹158.00. The IPO was subscribed 234.56x overall.
Recode Studios IPO tentative timeline covering IPO opening, closing, basis of allotment, refunds, demat credit, and listing dates.
| Event | Date |
|---|---|
| IPO Open Date | 05 May 2026 |
| IPO Close Date | 07 May 2026 |
| Basis of Allotment | 08 May 2026 |
| Initiation of Refunds | 11 May 2026 |
| Credit of Shares to Demat | 11 May 2026 |
| Listing Date | 12 May 2026 |
Listing day gain
+34.87%
Listed at ₹213.1 (issue ₹158)
Issue
₹158
Listing
₹213.1
Current
₹223.75
+41.61% vs issue
Day range
₹213.1 – ₹223.75
Issue Size
2,822,400 shares
(aggregating up to ₹45.00 Cr)
Issue Price
₹150 – ₹158
Face Value
₹10/share
Market Lot
800 shares
Retail Min Investment
₹252,800
Listing At
BSE
Sale Type
both
Fresh Issue
2,358,400 shares
(aggregating up to ₹37 Cr)
Offer for Sale
319,200 shares
(aggregating up to ₹5 Cr)
Reserved for Market Maker
144,800 shares
(aggregating up to ₹2.00 Cr)
Issue Type
book building
Open Date
05 May
Close Date
07 May
Allotment
08 May
Listing
12 May
Last updated: 4 months ago
| Date | IPO Issue Price (₹) | GMP (₹) | Est. Listing Price (₹) | Est. Profit Amount (₹) | Est. Profit % | Last Updated |
|---|---|---|---|---|---|---|
| 11 May 2026 Latest | ₹158 | ₹42 | ₹200 | ₹42 |
26.58%
|
6:37 PM |
| 10 May 2026 | ₹158 | ₹50 | ₹208 | ₹50 |
31.65%
|
12:52 PM |
Showing the 2 most recent GMP entries.
View full GMP historyLatest snapshot: 07 May 2026
| Category | Subscribed (x) | No. of Applications |
|---|---|---|
| QIB | 137.99x | - |
| NII | 404.74x | - |
| bNII (bids above ₹10L) | 485.52x | - |
| sNII (bids below ₹10L) | 121.59x | - |
| Retail Investors | 216.51x | - |
| Total | 234.56x | - |
Showing the latest subscription snapshot.
View full subscription historyThe company promoters are Dheeraj Bansal, Rahul Sachdeva, Shelly Bansal, Shalini Trehan, Preeti Trehan, and Karan Bansal
New to lot sizes and investment limits? Read our guide on IPO lot size and minimum investment.
| Category | Lots | Shares | Amount (₹) |
|---|---|---|---|
| Retail (Min) | 2 | 1,600 | ₹252,800 |
| Retail (Max) | 2 | 1,600 | ₹252,800 |
| S-HNI (Min) | 3 | 2,400 | ₹379,200 |
| S-HNI (Max) | 7 | 5,600 | ₹884,800 |
| B-HNI (Min) | 8 | 6,400 | ₹1,011,200 |
Want to understand how IPO shares are divided between investor categories? Read our guide on IPO reservation structure.
| Category | Shares Offered |
|---|---|
| Market Maker Shares Offered | 144,800 (5.13%) |
| Retail Shares Offered | 937,600 (33.22%) |
| NII (HNI) Shares Offered | 403,200 (14.29%) |
| QIB Shares Offered | 1,336,800 (47.36%) |
| Total Shares Offered | 2,822,400 (100.00%) |
Recode Studios IPO marks an important step in the journey of a young Indian beauty brand that has grown quickly by connecting with everyday consumers. Founded in 2021, the company focuses on affordable makeup and skincare products designed for Indian skin tones and preferences. Instead of relying heavily on external funding, Recode Studios has built its business with a strong focus on profitability and steady expansion.
What makes the brand stand out is its ability to meet customers where they already shop. Its products are available across major online platforms like Amazon, Nykaa, Myntra, and Flipkart, while also expanding into offline retail stores through franchises and company outlets. This balanced approach has helped the company build visibility and trust among a wide audience.
Through this IPO, Recode Studios aims to raise funds to support its next phase of growth. The company plans to invest in better infrastructure, including a new warehouse, while also strengthening its marketing efforts to reach more customers. A portion of the funds will also be used for working capital and general business needs.
Overall, the IPO reflects the company’s ambition to scale responsibly while staying rooted in its core idea of offering accessible and trendy beauty products.
Standalone · ₹ in Crores
| Particulars | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|
| Total Revenue | 22.44 | 36.93 | 47.94 |
| Profit After Tax (PAT) | 0.69 | 0.27 | 3.3 |
| EBITDA | 1.44 | 1.67 | 6.13 |
| Total Assets | 12.53 | 16.73 | 23.18 |
| Net Worth | 5.2 | 5.47 | 8.77 |
| Reserves & Surplus | 5.19 | 5.46 | 8.76 |
| Total Borrowing | 3.79 | 7.85 | 7.56 |
Revenue & Profit Trend
The basis of allotment for Recode Studios IPO was finalised on 08 May 2026. You can check your allotment status using your PAN number or application number on the Mudra RTA Ventures Private Limited portal or BSE.
The Recode Studios IPO is expected to open in May 2026, subject to SEBI approval. Final dates will be updated once announced officially.
The price band for Recode Studios IPO is ₹150.00 - ₹158.00 per share.
As per market sources, Recode Studios IPO GMP is currently ₹42.00. GMP is tracked daily in the grey market. GMP indicates unofficial demand but does not guarantee listing gains.
The subscription status for Recode Studios IPO stands at 234.56x overall.
The listing date for Recode Studios IPO is 12 May 2026.
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