Recode Studios IPO GMP today is Rs 55.1. Investors can use this GMP along with price band and subscription status for a better IPO review.
Listed
SME IPO
RECODE
Recode Studios IPO GMP & Allotment
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.
- IPO Price Band
- ₹150.00 - ₹158.00
- Lot Size
- 800 Shares
- Bidding Closes
- 07 May 2026
- Listing Date
- 12 May 2026
Quick Answer & Highlights
Recode Studios IPO GMP Today & Key Takeaways
Last updated: 07 May 2026
Recode Studios IPO officially listed on 12 May 2026 at Rs 213.10, delivering a +34.87% listing gain compared to its issue price of Rs 158.00. Pre-listing, its final recorded Grey Market Premium (GMP) was ₹55.1.
Recode Studios IPO officially listed on 12 May 2026 at ₹213.10, delivering a +34.87% listing gain compared to its issue price of ₹158.00. Pre-listing, its final recorded Grey Market Premium (GMP) was ₹55.1.
| Key Metric | Figure | Status / Context |
|---|---|---|
| Current GMP | ₹55.1 | +34.87% vs upper band (07 May 2026) |
| Est. Listing Price | ₹213.10 | +34.87% Est. Listing Gain |
| Price Band | ₹150.00 - ₹158.00 | SME IPO |
| Retail Minimum Investment | ₹2,52,800 | 2 Lot (800 Shares) |
| Bidding Window | 05 May 2026 – 07 May 2026 | Listed |
| Allotment & Listing Dates | Allotment: TBA | Listing: 12 May 2026 |
Current GMP Status
₹55.1
+34.87% vs upper band
Est. Listing Gain
+34.87%
Last Trend
07 May 2026
Listing Price
₹213.10
Retail Entry
₹2,52,800
IPO Details
Complete IPO information
| IPO Open Date | 05 May 2026 |
|---|---|
| IPO Close Date | 07 May 2026 |
| IPO Price Band | ₹150.00 - ₹158.00 |
| Lot Size | 800 Shares |
| Current GMP | ₹55.1 |
| Estimated Listing Gain | +34.87% |
| Issue Size | - |
| Fresh Issue | - |
| Issue Type | SME |
| IPO Listing | NSE, BSE |
| Retail Quota | TBA |
| Registrar | TBA |
| Overall Subscription | 59.5x |
| Minimum Investment | ₹2,52,800 |
| DRHP Draft Prospectus | |
| RHP Draft Prospectus | - |
Analysis
IPO Snapshot & Investor Takeaways
At the upper end of its price band, Recode Studios is priced at ₹158 per share. With a minimum lot size of 800 shares, a retail investor applying for one lot would need approximately ₹2,52,800 to participate in this SME issue.
The latest recorded Grey Market Premium for Recode Studios stands at ₹55.1, implying an estimated listing gain of around 34.87% over the issue price if it holds until listing. GMP reflects informal grey-market sentiment rather than a guaranteed outcome, and can change at any point until the day of listing.
As of the latest update, Recode Studios's IPO was subscribed 59.5x overall, with a category-wise breakdown of Retail 67.67x, QIB 3.54x.
SME IPOs list on the dedicated SME platform of BSE/NSE. They usually involve smaller issue sizes and a higher per-lot investment than Mainboard issues, with comparatively lower institutional participation.
Timeline
IPO roadmap at a glance
✓
Bidding Opens
05 May 2026
✓
Bidding Closes
07 May 2026
✓
Allotment
TBA
✓
Listing
12 May 2026
| Event / Milestone | Scheduled Date | Status |
|---|---|---|
| Bidding Opens | 05 May 2026 | Completed |
| Bidding Closes | 07 May 2026 | Completed |
| Allotment | TBA | Completed |
| Listing | 12 May 2026 | Completed |
Grey Market Premium
Daily GMP status
Trend chart builds up as more daily GMP snapshots are recorded.
| Date | GMP | Change | Gain |
|---|---|---|---|
| 07 May 2026 | ₹48.00 | - | 30.38% |
Swipe to see more →
Market Lot
Application size breakdown
| Category | Lots | Shares | Amount |
|---|---|---|---|
| Retail Minimum | 2 Lot | 1,600 | ₹2,52,800 |
| Retail Maximum | 2 Lot | 1,600 | ₹2,52,800 |
| S-HNI Minimum | 3 Lot | 2,400 | ₹3,79,200 |
| S-HNI Maximum | 7 Lot | 5,600 | ₹8,84,800 |
| B-HNI Minimum | 8 Lot | 6,400 | ₹10,11,200 |
Swipe to see more →
Fund Utilization
Objects of the Issue & Official Documents
Analysis
Recode Studios IPO Reservation
| 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% |
Analysis
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 |
Analysis
Recode Studios IPO 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.
Analysis
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 |
Analysis
Recode Studios Objects of the Issue & Utilisation of Proceeds
To Be Updated Soon
Analysis
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).
Analysis
Recode Studios Company Financials
To Be Updated Soon
Analysis
Recode Studios Company Valuation – FY2026
To Be Updated Soon
Analysis
Recode Studios IPO Peer Group Comparison
To Be Updated Soon
Analysis
IPO Lead Managers aka Merchant Bankers
- Seren Capital Pvt. Ltd.
Comparison
Compare Recode Studios IPO with similar IPOs
FAQ
Recode Studios IPO FAQs
Based on the latest Grey Market Premium (GMP) of Rs 55.1 and an issue price of Rs 158, the estimated listing price for Recode Studios IPO is Rs 213.10 (approx 34.87% listing gain). Actual listing price is determined by market demand on the listing day.
Recode Studios IPO price band is Rs 150.00 to Rs 158.00. Check the latest issue price, lot size and GMP together before applying.
Recode Studios IPO open date is 05 May 2026, close date is 07 May 2026, and listing date is 12 May 2026.
Recode Studios IPO lot size is 800 shares. The minimum retail investment is Rs 2,52,800.
Recode Studios is classified as a SME IPO. This helps investors quickly understand the issue category and exchange segment.
Recode Studios IPO subscription status currently shows Retail 67.67x, QIB 3.54x, Overall 59.5x.
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.
In our empirical study of 117 Indian IPO listings, positive GMP was followed by a positive listing gain 69.8% of the time. However, as an exact forecast, the median variation between GMP-implied gain and actual listing price was 8 percentage points. GMP reflects informal market sentiment and should always be evaluated alongside company valuation and fundamentals.
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