ewsba.se
Recode Studios IPO Day 1: The initial public offering (IPO) of Recode Studios opened for subscription today, May 5 and will close on Thursday, May 7. The Recode Studios IPO price band has been set in the range of ₹150-158 per share.
The company aims to raise ₹44.59 crore from this SME IPO, which is a mix of fresh shares and an offer for sale (OFS). The issue is a combination of fresh issue of 0.25 crore shares aggregating to ₹39.55 crore and an offer for sale of 0.03 crore shares aggregating to ₹5.04 crore.
The IPO allotment is expected on Friday, May 8, while successful applicants are likely to receive their shares on Monday, May 11. Refunds for non-allottees will also be processed on the same day. The stock is scheduled to list on the BSE SME with a tentative listing date of May 12.
Investor sentiment toward the IPO is strong, as its grey market premium (GMP) is ₹40 on May 5. This suggested that the stock was likely to debut at ₹198, a premium of 25.32% from its IPO price.
'Grey market premium' indicates investors' readiness to pay more than the issue price.
The subscription will open at 10 am today.
The company proposed to utilise the net proceeds from the issue across multiple strategic areas to support its growth plans. A portion of ₹5.74 crore was earmarked for capital expenditure towards setting up a new warehouse facility in Ludhiana, Punjab, aimed at strengthening its logistics and distribution capabilities.
Additionally, ₹5.41 crore was allocated for marketing and advertising initiatives to enhance brand visibility and awareness in a competitive beauty and personal care market. The company also planned to deploy ₹19.50 crore towards meeting its working capital requirements to support day-to-day operations and business expansion. The remaining funds were intended for general corporate purposes.
The lot size is 800 shares, requiring a minimum retail investment of ₹2.52 lakh (1600 shares, 2 lots) at the upper end of the price band. Of the Net offer 13,36,800 (49.93%) are allocated to QIB, 4,03,200 (15.06%) allocated to NII 9,37,600 (35.02%) allocated to RII.
Seren Capital Pvt.Ltd. is the book running lead manager for the IPO and Mudra RTA Ventures Private Limited is the registrar of the issue. The Market Maker of the company is Asnani Stock Broker Pvt.Ltd.
Recode Studios operates in India’s beauty and personal care space, focusing on cosmetics and related products. The company builds and sells its offerings under the “Recode” brand, with a portfolio of more than 350 SKUs spanning face, eye and lip make-up, skincare, body care, and beauty accessories.
Its business is centred on branding, sourcing, and distribution rather than manufacturing. Recode Studios procures products through third-party manufacturers and imports, allowing it to focus on expanding its product range and market reach.
The company follows an omnichannel distribution model, selling through multiple touchpoints including its own retail stores, franchise outlets, third-party e-commerce platforms, as well as its website and mobile application. It currently operates 22 physical stores—both company-owned and franchise-led—and supports its supply chain through six warehouses across India for storage and dispatch.
Pranati Deva is a seasoned financial journalist with over a decade of experience in high-pressure newsroom environments, currently working as a Senior Sub Editor at LiveMint. Over the years, she has developed a reputation for sharp editorial judgement, a strong grasp of market dynamics, and the ability to translate complex financial developments into clear, engaging stories for a wide audience. <br><br> Her core areas of coverage include stock markets, leading listed companies, currencies, and commodities, with a particular strength in fast-paced, real-time market reporting. She is known for handling breaking market news, earnings-driven stock movements, and macroeconomic developments with speed, accuracy, and context—qualities that are essential in financial journalism. <br><br> Pranati has built a diverse and credible professional track record across some of India’s most respected news organisations, including MintGenie, CNBC-TV18, Business Standard and EconomicTimes.com. During her stints at these platforms, she produced data-driven market stories, curated and steered live blogs during volatile trading sessions, and conducted interviews with market veterans, fund managers, economists, and industry experts. Her work often combines on-ground reporting with analytical depth, helping readers make sense of daily market fluctuations and longer-term trends. An alumnus of the Symbiosis Institute of Media and Communications and Hansraj College, University of Delhi, Pranati brings a strong academic foundation to her journalism. She specialises in real-time financial reporting, with a keen focus on precision, balance, and insight, aiming to decode market movements in a way that is both informative and accessible to readers across experience levels.
Catch all the Business News , Market News , Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.