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Subscription Status · May 05 – May 07, 2026 · ₹150–158
The Recode Studios IPO subscription has recorded exceptional investor demand with an overall subscription of 234.56× as of May 07, 2026, indicating that investors applied for 234.56 times the number of shares on offer. All investor categories (institutional, HNI, and retail) have participated actively, making this one of the closely watched IPO openings.
Last updated: May 07, 2026, 1:59 PM IST
| Category | Shares Offered | Shares Bid For | Times Subscribed | Applications |
|---|---|---|---|---|
|
QIB
Qualified Institutional Buyers
|
535,200 | 73,849,600 |
137.99×
|
- |
|
NII
Non-Institutional Investors
|
403,200 | 163,191,200 |
404.74×
|
- |
|
bNII
Bids above ₹10L
|
268,800 | 130,508,800 |
485.52×
|
- |
|
sNII
Bids below ₹10L
|
268,800 | 32,682,400 |
121.59×
|
- |
|
Retail
Retail Individual Investors
|
937,600 | 202,996,800 |
216.51×
|
- |
|
Total
|
1,876,000 | 440,037,600 |
234.56×
|
- |
How subscription built up across investor categories over time
Snapshot of each day's bidding activity
| Category | Offered | Bid For | Times | Applications |
|---|---|---|---|---|
| QIB | 535,200 | 1,880,800 | 3.51× | - |
| NII | 403,200 | 4,067,200 | 10.09× | - |
| bNII | 268,800 | 3,086,400 | 11.48× | - |
| sNII | 134,400 | 980,800 | 7.30× | - |
| Retail | 937,600 | 8,564,800 | 9.13× | - |
| Total | 1,876,000 | 14,512,800 | 7.74× | - |
| Category | Offered | Bid For | Times | Applications |
|---|---|---|---|---|
| QIB | 535,200 | 1,892,000 | 3.54× | - |
| NII | 403,200 | 22,743,200 | 56.41× | - |
| bNII | 268,800 | 17,732,000 | 65.97× | - |
| sNII | 134,400 | 5,011,200 | 37.29× | - |
| Retail | 937,600 | 38,025,600 | 40.56× | - |
| Total | 1,876,000 | 62,660,800 | 33.40× | - |
| Category | Offered | Bid For | Times | Applications |
|---|---|---|---|---|
| QIB | 535,200 | 73,849,600 | 137.99× | - |
| NII | 403,200 | 163,191,200 | 404.74× | - |
| bNII | 268,800 | 130,508,800 | 485.52× | - |
| sNII | 268,800 | 32,682,400 | 121.59× | - |
| Retail | 937,600 | 202,996,800 | 216.51× | - |
| Total | 1,876,000 | 440,037,600 | 234.56× | - |
As of May 07, 2026, the Recode Studios IPO has been subscribed 234.56 times overall. The IPO is fully subscribed with strong investor demand indicating extremely high interest.
The Recode Studios IPO subscription window was open from May 05, 2026 to May 07, 2026. Investors could apply through their demat account or ASBA facility.
The Recode Studios IPO has a price band of ₹150 to ₹158 per share, with a lot size of 800 shares. Minimum retail investment: ₹120,000 (lower band) or ₹126,400 (upper band).
The QIB category has been subscribed 137.99 times. QIBs were offered 535,200 shares. Strong QIB subscription indicates high institutional confidence.
Retail investors subscribed 216.51 times. Retail was offered 937,600 shares. High retail subscription reflects strong small-investor interest.
Overall NII: 404.74×. bNII (>₹10L): 485.52×, sNII (<₹10L): 121.59×. NII includes HNIs and corporate entities investing above ₹2 lakh.
Basis of allotment is on May 08, 2026. Check via the registrar's website, Mudra RTA Ventures Private Limited using your PAN number, application number, or DP/Client ID. You can also check on BSE/NSE websites or through your broker's app.
Recode Studios IPO is expected to list on May 12, 2026. Shares will list on BSE SME platform. Allotted shares are credited to your demat account 1 business day before listing.
A subscription multiple of 234.56× means investors have bid for 234.56 times the total shares available. Since the IPO is oversubscribed, not every applicant will receive shares, allotment happens via lottery (for retail) or proportionately (for other categories). Higher multiples generally reduce allotment probability.
Based on the current retail subscription of 216.51×, the estimated allotment probability for retail investors is Very Low. Only 1 lot likely via lottery if selected. Retail allotment in oversubscribed IPOs is done by computerised lottery, each valid application has an equal probability regardless of the number of lots applied for.
You can apply for Recode Studios IPO through: (1) ASBA (Application Supported by Blocked Amount) via your bank's net banking or mobile app, (2) UPI-based application through your broker's app (Zerodha, Groww, Angel One, etc.), or (3) directly via your demat account. The amount is blocked in your account and deducted only upon allotment. Applications were accepted from May 05 to May 07, 2026.
The grey market premium (GMP) reflects unofficial pre-listing trading sentiment. For the latest Recode Studios IPO GMP data, check the IPORise GMP page. Note: GMP is unofficial, speculative, and not a guaranteed indicator of listing price. Use it only as a sentiment signal alongside official subscription data.
New to reading subscription numbers? Read our guide on IPO subscription explained.
Subscription Opens Done
May 05, 2026Subscription Closes Done
May 07, 2026Basis of Allotment Done
May 08, 2026Listing on BSE Done
May 12, 2026Only 1 lot likely via lottery if selected. Based on retail subscription of 216.51×.
Retail allotment in oversubscribed IPOs is done by computerised lottery, each valid application has equal odds regardless of lot size applied.
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Higher subscription = lower allotment probability. Progress bars compare each category relative to the highest-subscribed category.
