GMP IPO Watch
Recode Studios IPO: From Shark Tank to Stock Market—Is This Beauty Brand a "Makeup" or a "Breakup" for Your Portfolio?
Ludhiana-based Recode Studios prepares for its ₹45 crore IPO in May 2026. With a massive s...
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R
SME IPO
LISTED
NSE, BSE
RECODE
Recode Studios IPO
Recode Studios IPO details, live grey market premium (GMP), dates, price band, lot size, subscription & review.
Live GMP Today
₹55.1
+34.9%
Est. Listing: ₹213.10
Price Band
₹150 - ₹158
Per equity share
Lot Size
800 Shares
Min Invest: ₹2,52,800
Issue Size
₹158 Cr
Total Public Offering
Issue Dates
4 May 2026 – 6 May 2026
Bidding period
Subscription
59.5x
Total overall demand
Recode Studios IPO Details
Key facts at a glance| IPO Open Date | 4 May 2026 | IPO Close Date | 6 May 2026 |
|---|---|---|---|
| Basis of Allotment | TBA | Listing Date | 11 May 2026 |
| Price Band | ₹150 - ₹158 per share | Face Value | ₹10 per share |
| Market Lot Size | 800 Shares | Min Investment (Retail) | ₹2,52,800 |
| Total Issue Size | ₹158 Cr | Issue Type | Book Built Issue IPO |
| Fresh Issue | — | Offer for Sale (OFS) | — |
| Listing At | NSE, BSE | Issue Category | SME Issue |
| Registrar | TBA | ||
Recode Studios IPO Timetable (Tentative Dates)
| Event | Tentative Date | Status |
|---|---|---|
| IPO Open Date | 4 May 2026 | Confirmed |
| IPO Close Date | 6 May 2026 | Confirmed |
| Basis of Allotment | TBA | Tentative |
| Initiation of Refunds | TBA | Tentative |
| Credit of Shares to Demat | TBA | Tentative |
| IPO Listing Date | 11 May 2026 | Tentative |
| Cut-off time for UPI Mandate Confirmation | 5:00 PM on Closing Day | Deadline |
* Note: Timelines are tentative and subject to regulatory confirmation. UPI mandate approvals must be completed by 5:00 PM on the IPO closing day.
Recode Studios IPO Lot Size & Investment Details
Application limits for Retail and HNI investors| Application Category | Lots | Shares | Amount (at Cut-off) |
|---|---|---|---|
| Retail (Min) | 2 Lots | 1,600 Shares | ₹2,52,800 |
| Retail (Max) | 2 Lots | 1,600 Shares | ₹2,52,800 |
| S-HNI (Min) | 3 Lots | 2,400 Shares | ₹3,79,200 |
| S-HNI (Max) | 7 Lots | 5,600 Shares | ₹8,84,800 |
| B-HNI (Min) | 8 Lots | 6,400 Shares | ₹10,11,200 |
Recode Studios IPO Live GMP & Movement History
Daily unofficial grey market trends
Current Grey Market Premium
₹55.1 +34.9%
Estimated Listing Price
₹213.10
| Date | IPO GMP (₹) | Estimated Listing Price | Estimated Listing Gain (%) |
|---|---|---|---|
| 7 May 2026 | ₹48 | ₹206.00 | +30.38% |
Disclaimer: Grey Market Premium (GMP) figures are purely unofficial and indicative rates traded in the unregulated grey market. GMP is highly volatile and does not guarantee the actual listing price. Always consult a SEBI registered investment advisor before bidding.
Recode Studios IPO Subscription Status
Demand breakdown by investor category
Retail
67.67x
QIB
3.54x
NII / HNI
—
Total
59.50x
About Recode Studios
Recode Studios Limited operates in the beauty and cosmetics industry, offering a wide range of makeup, skincare, and personal care products. The company focuses on affordable and trend-driven beauty solutions designed to cater to modern consumers through both online and offline distribution channels. With the increasing popularity of beauty products, social media-driven consumer trends, and rising demand for personal grooming, the company continues to expand its market presence. Its product portfolio and digital-first marketing approach help attract a growing customer base across India. The IPO is expected to support brand expansion, product development, marketing initiatives, and working capital requirements, enabling the company to strengthen its position in the fast-growing cosmetics and beauty market.
Recode Studios IPO Reservation & Share Quotas
| Investor Category | Shares Offered | Shares (%) |
|---|---|---|
| Anchor Investor | 8,01,600 Shares | — |
| QIB (Ex. Anchor) | 13,36,800 Shares | 50% |
| NII | 4,03,200 Shares | 14.29% |
| Retail | 9,37,600 Shares | 33.22% |
Recode Studios IPO Anchor Investors
| Anchor Bidding Date | May 4, 2026 |
|---|---|
| Shares Offered | 8,01,600 Shares |
| Anchor Size | ₹12.67 Cr. |
| Lock-in Period (50% Shares - 30 Days) | June 7, 2026 |
| Lock-in Period (50% Shares - 90 Days) | August 6, 2026 |
Recode Studios IPO Important Dates
| Particular | Dates |
|---|---|
| IPO Open Date | 05 May 2026 |
| IPO Close Date | 07 May 2026 |
| Basis of Allotment | - |
| Refunds | - |
| Credit to Demat Account | - |
| IPO Listing Date | 12 May 2026 |
Note: The timeline for Recode Studios IPO is tentative and subject to change.
Recode Studios IPO Promoters & Holding Pattern
| Particular | Shares | % Share |
|---|---|---|
| Promoter Holding Pre Issue | 81,41,144 | 88.93% |
| Promoter Holding Post Issue | 1,06,44,344 | 65.01% |
| Promoters |
|---|
| Dheeraj Bansal, Rahul Sachdeva, Shelly Bansal, Shalini Trehan, Preeti Trehan, and Karan Bansal |
Recode Studios Objects of the Issue & Utilisation of Proceeds
To Be Updated Soon
About Recode Studios IPO
Recode Studio was founded in 2021 and is known as an Indian beauty and personal care brand. They focus on creating great branding, sourcing top-notch products and selling them all across India.
Further, they lineup covers makeup, skincare, body care, and beauty tools. They have around 350 products in various categories and prices, like face, eye and lip categories and lip makeup. Plus face and body essentials.
As of September 30, 2025, they’ve got 24 stores up and running across 14 states in India. That’s 3 company-owned and run spots (COCO) plus 21 franchise-owned and operated ones (FOFO).
Recode Studios Company Financial Report
To Be Updated Soon
Recode Studios Company Valuation & Key Performance Indicators
To Be Updated Soon
Recode Studios Peer Group Comparison
To Be Updated Soon
Recode Studios Lead Managers & Merchant Bankers
- Seren Capital Pvt. Ltd.
Recode Studios IPO FAQs
Recode Studios IPO opens for subscription on 4 May 2026 and closes on 6 May 2026.
The price band for Recode Studios IPO is set at ₹150.00 to ₹158.00 per share.
The minimum market lot size is 800 shares. A retail investor can apply for a minimum of 1 lot requiring an investment of 1,600 Shares (₹2,52,800).
The latest Grey Market Premium (GMP) for Recode Studios IPO is ₹55.10. GMP represents the unofficial premium at which shares trade prior to listing.
The basis of allotment for Recode Studios IPO is tentatively scheduled for TBA, and shares are expected to list on the stock exchanges on 11 May 2026.
The registrar details will be confirmed in the official prospectus.
Recode Studios IPO Analysis & Articles