Recode Studios Limited
IPO Details
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Lot Distribution
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Company Fin.
₹35(22.15%)
Premium (ELP)
Following its successful public offering, Recode Studios Limited's made its market debut on May 12, 2026 and is now actively traded on the BSEplatform. The IPO mobilized 28,22,400 Shares in total capital, including 25,03,200 Shares in primary equity infusion and ₹5.04 Cr in secondary share sales.
The offering was structured with a price band of ₹150 to ₹158 and minimum investment lots of 800 shares. Investor participation during the subscription window from May 05, 2026 to May 07, 2026 demonstrated market confidence in the company's prospects.
The allotment process concluded on May 08, 2026, allocating shares to successful bidders. The listing represents the culmination of the IPO process, transitioning the company to publicly traded status with enhanced transparency and governance standards.
Investors can bid starting from the minimum lot size specified for this IPO, and only in multiples of that lot size. The table below shows the minimum and maximum investment for retail investors and HNIs in terms of lots, quantity, and amount.
Recode Studio, incorporated in 2021, is an Indian beauty and personal care company operating under the brand “Recode,” offering over 350 SKUs across makeup, skincare, body care, and beauty accessories. The company sells its products through an omnichannel network that includes company-owned stores (COCO), franchise stores (FOFO), third-party e-commerce platforms, and its own website and app, with offline sales via COCO and FOFO stores and online sales through platforms like Amazon, Nykaa, Myntra, and Flipkart. As of September 30, 2025, it operates 24 stores across 14 states, comprising 3 COCO and 21 FOFO stores, with all products manufactured by third-party manufacturers in India.
Note : "Calculations for ‘Shares Offered’ and ‘Total Amount’ are based on the highest price in the issue price band."
- Creative & Digital Services Focus: Operates in content creation, digital media, or tech‑driven creative services — sectors with rising demand as businesses increase online presence.
- Scalable Business Model: Ability to scale offerings to different clients and industries provides growth opportunities.
- Growing Market Demand: Rising consumption of digital content and experiential services supports future expansion.
- Competitive Industry: Faces strong competition from many content and digital studios, including established firms and freelancers.
- Revenue Fluctuations: Project‑based work can lead to uneven revenue streams across quarters.
- Dependence on Client Budgets: Business performance can be sensitive to client spending trends, especially in advertising and marketing cuts.
- Dheeraj Bansal
- Rahul Sachdeva
- Shelly Bansal
- Shalini Trehan
- Preeti Trehan
- Karan Bansal
Recode Studios Limited
Mudra RTA Ventures Private Limited