NIFTY23,4060.33%
SENSEX74,3460.41%
BANKNIFTY54,1860.88%
NIFTY IT29,3845.57%
PHARMA24,0870.33%
AUTO26,0930.05%
FMCG48,1241.01%
METAL13,5350.17%
REALTY762.601.39%
ENERGY40,1970.02%
NIFTY23,4060.33%
SENSEX74,3460.41%
BANKNIFTY54,1860.88%
NIFTY IT29,3845.57%
PHARMA24,0870.33%
AUTO26,0930.05%
FMCG48,1241.01%
METAL13,5350.17%
REALTY762.601.39%
ENERGY40,1970.02%
Recode Studios

Recode Studios

Open Date

May 5, 2026

Close Date

May 7, 2026

listed

Min Investment

₹2,52,800

Lot Size

1600 Shares

Issue Size

₹44.59 Cr

Price Range

₹150 - ₹158

Listing Date

May 12, 2026

IPO Doc

RHP PDF

About Recode Studios

Established in 2021, Recode Studio is a manufacturer of beauty and personal care products based in India under the brand 'Recode'. The company's operations include manufacturing, marketing and sale of beauty and personal care products across India. It sells its products via an omnichannel retailing approach, including through company-owned stores (COCO), franchise stores (FOFO), third-party e-commerce platforms and our own website and mobile application. The products sold by Recode Studio include makeup, skin care, body care and beauty accessories. In addition, at the time of filing this DRHP, the number of SKU offered by the company is over 350, covering all ranges from facial to eyes and lips as well as body care products. The customers may purchase the products both offline and online. The offline sales happen through COCO and FOFO stores while online sales through our websites and mobile applications along with other third-party platforms such as Amazon, Nykaa, Myntra, and Flipkart. As of the date of this DRHP, as on September 30, 2025, the company has a total number of 24 stores, out of which 3 stores are COCO and 21 stores are FOFO, spread across 14 states of India. Products offered by the company are manufactured through third-party manufacturers in India.

Checklist Quality Analysis

Revenue Growth

Company Valuation

Earning Expansion

The investment checklist helps you understand a company's financial health at a glance and identify quality investment opportunities easily.

0GMP

Recode Studios IPO - Issue Objectives

The company will utilise ₹5.74 crore to setup new warehouse facility at Ludhiana The company will utilise ₹19.50 crore for funding the working capital of the business. ₹5.40 crore to boost brand visibility via marketing ads. Part of the IPO proceeds will be used for general corporate purposes and issue expenses

Capital expenditure

14.3%

Working capital

48.7%

Advertisement expenses

13.5%

General corporate purposes

23.3%

1

Capital expenditure

The company will utilise ₹5.74 crore to setup new warehouse facility at Ludhiana

14.30%
2

Working capital

The company will utilise ₹19.50 crore for funding the working capital of the business.

48.70%
3

Advertisement expenses

₹5.40 crore to boost brand visibility via marketing ads.

13.50%
4

General corporate purposes

Part of the IPO proceeds will be used for general corporate purposes and issue expenses

23.30%

IPO Subscription Status

Financials of Recode Studios

In Cr.

Contact Details

Recode Studios

R-89, Phase V, Focal Point, Ludhiana, Punjab - 141010.

Recode Studios IPO - FAQs

Recode Studios IPO is a SME IPO. The issue is priced at 150-158. The minimum order quantity is 1600 Shares. The IPO opens on 5 May, and closes on 7 May. TBA is the registrar for the IPO. The shares are proposed to be listed on SME.

Live IPOs

CMR Green Technologies logo

CMR Green Technologies

Mainboard
BSE
NSE
Open  Close3rd Jun 2026 - 5th Jun 2026
Issue Size630.88 Cr
Min. Qty78 Shares
Issue Price₹ 182.00
Live IPO
Vahh Chemicals logo

Vahh Chemicals

SME
Open  Close4th Jun 2026 - 8th Jun 2026
Issue Size13.45 Cr
Min. Qty2000 Shares
Issue Price₹ 60.00
Live IPO
UHM Vacation logo

UHM Vacation

SME
Open  Close4th Jun 2026 - 8th Jun 2026
Issue Size36.02 Cr
Min. Qty800 Shares
Issue Price₹ 166.00
Live IPO
Hexagon Nutrition logo

Hexagon Nutrition

Mainboard
Open  Close5th Jun 2026 - 9th Jun 2026
Issue Size138.87 Cr
Min. Qty333 Shares
Issue Price₹ 42.00
Live IPO
See All Live IPOs
IPOScanner Logo

IPOScanner helps investors track upcoming, live and past IPOs in one place with GMP, subscription, allotment status and listing performance insights.

About IPO Scanner

IPOScanner is built for investors who want a clear view of every IPO opportunity in one place. From upcoming issues to live subscription data, allotment updates and listing performance, we bring together the key details you need to track the primary market.

Our tools are designed to be simple, fast and investor-friendly so you can focus on evaluating businesses instead of opening multiple tabs and websites for basic information.

Details of client bank account
For any query / feedback / clarifications, email at
[email protected].

Please read all offer documents and risk disclosures carefully before investing. IPOScanner does not provide investment advice and information on this site should not be treated as a recommendation to apply for any IPO.

© 2026 IPO Scanner. All rights reserved.