Recode Studios IPO Review – Price Band, GMP, Listing Date & SME Beauty Stock Opportunity
Recode Studios Limited, incorporated in 2021, is an Indian beauty and personal care brand operating under the “Recode” label. The company focuses on branding, sourcing and selling a wide range of cosmetics and skincare products across India.
Its portfolio includes over 350+ SKUs across makeup, skincare, body care and beauty accessories. The company operates an omnichannel model, combining offline retail (COCO & FOFO stores) with online platforms such as its website, mobile app, and marketplaces like Amazon, Nykaa, Myntra and Flipkart.
As of September 30, 2025, Recode operates 24 stores across 14 states, supported by third-party manufacturing partners. The brand focuses on affordability, digital engagement and scalable retail expansion.
Recode Studios Limited IPO Dates
- IPO Open Date: 05 May 2026
- IPO Close Date: 07 May 2026
- Allotment Date: 08 May 2026
- Refund Initiation: 11 May 2026
- Shares Credit: 11 May 2026
- Listing Date: 12 May 2026
Recode Studios Limited IPO Details
- Face Value: ₹10 per share
- Price Band: ₹150 – ₹158 per share
- Issue Price: ₹158 per share
- Lot Size: 800 shares
- Minimum Investment (Retail): ₹2,52,800
- Issue Type: Book Built Issue (SME)
- Sale Type: Fresh Issue + Offer for Sale
- Total Issue Size: ~₹44.6 crore
- Fresh Issue: ~₹39.6 crore
- Offer for Sale: ~₹5 crore
- Listing At: BSE SME
Refer to Recode Studios RHP for detailed Information.
Objects of the Issue
- Funding working capital requirements
- Expansion of retail footprint
- Brand building and marketing initiatives
- General corporate purposes
Competitive Strengths
- Omnichannel presence (offline + online distribution)
- Wide product portfolio across beauty categories
- Strong digital and marketplace presence
- Asset-light sourcing and manufacturing model
- Growing retail footprint across India
- Experienced management and brand-building capabilities
IPO Allotment & Application Status
Registrar: Mudra RTA Ventures Private Limited
- BSE Bid Status: https://www.bseindia.com/investors/appli_check.aspx
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Recode Studios IPO – Frequently Asked Questions (FAQ)
Recode Studios IPO is gaining traction due to its presence in the fast-growing beauty and D2C segment combined with a small SME issue size.
1. What does Recode Studios Limited do?
The company operates a beauty and personal care brand offering makeup, skincare and accessories through retail stores and online platforms.
2. What is the price band of the IPO?
The IPO price band is ₹150 to ₹158 per share with a lot size of 800 shares.
3. What is the issue size of Recode IPO?
The total issue size is approximately ₹44.6 crore, including fresh issue and offer for sale.
4. Where will the shares be listed?
The shares will be listed on the BSE SME platform.
5. Is Recode IPO suitable for listing gains or swing trading?
SME IPOs with small issue sizes and strong consumer themes often witness sharp listing moves. Traders can track subscription levels and early price action for short-term opportunities.
Investor Education Hub: Everything You Need to Know About IPOs
- How to Analyse an IPO Before Applying
- Step-by-Step Guide: IPO Process in India
- Understanding IPO Application & Allotment (UPI / ASBA & Eligibility)
- 8 Tips to Improve Your Chances of IPO Allotment
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