Recode Studios Ltd.
SMEBSE₹150–158
₹ 32 Cr
1600 Shares
₹ 2,40,000
₹10
Financial Summary
| Particulars | FY 2025-26 | FY 2024-25 |
|---|---|---|
| 7,995 | 4,779.81 | |
| 10.83 | 14.12 | |
| 8,005.83 | 4,793.93 | |
| 6,335.77 | 4,161.32 | |
| 1,501.06 | 443.45 | |
| 1,122.48 | 311.18 |
Subscription Details
Subscription
IPO Timeline
IPO Offer Start
5 May 2026
IPO Offer Ends
7 May 2026
12 May 2026
Use of Proceeds
| # | Purpose | Amount (₹ Million) |
|---|---|---|
| 1 | Funding of Capital expenditure towards setup of a new Warehouse Facility at | 57.42 |
| 2 | Marketing and Advertisement expenses toward enhancing the awareness and | 54.09 |
| 3 | Utilization towards Working Capital Requirements | 210 |
Promoters
Book Running Lead Managers
Promoter Shareholding
Pre-IPO
88.93%
Promoter stake
Post-IPO
65.02%
Promoter stake
Offered to Public
20,20,800
shares
Post Share Capital
69,20,670
shares
About the Company
We are a beauty and personal care (“BPC”) company operating in the beauty, cosmetics and personal care segment in India. Our business primarily involves the branding, procurement and distribution of beauty and personal care products under the “Recode” brand. We operate through an omnichannel distribution network, which comprises Company-Owned Company-Operated (“COCO”) retail stores, Franchisee-Owned Franchisee-Operated (“FOFO”) stores, third-party e-commerce platforms and our proprietary website and mobile application. We offer a diversified portfolio of products across make-up, skincare, body care and beauty accessories, catering to a wide range of consumer preferences and usage occasions. As of the date of this DRHP, our Company offers approximately 350+ Stock Keeping Units (“SKUs”) across multiple categories and price points. Our product portfolio includes face make-up, eye make-up, lip makeup, face and body care products and beauty accessories. Our omnichannel distribution model enables us to distribute our products through both offline and online channels, allowing customers to purchase our products through physical retail outlets as well as digital platforms. Offline distribution is carried out through a combination of COCO stores, which are directly operated by the Company and FOFO stores, which are operated by independent franchise partners. Online distribution is undertaken through our own website (www.shop.recodestudios.com) and mobile application (Recode Studios), as well as through third-party e-commerce marketplaces such as Amazon, Nykaa, Myntra and Flipkart. The “Recode” brand was established in the year 2018 under the partnership firm, M/s Lush Looks, by five of our existing Promoters, namely, Mr. Rahul Sachdeva, Ms. Shelly Bansal, Ms. Preeti Trehan, Ms. Neetu Bansal and Ms. Shalini Trehan. Subsequent to the incorporation of our Company in 2021, the business operations of M/s Lush Looks were gradually transferred to the Company and by the end of the financial year 2022–23, the entire business was being carried on by the Company.
Use of Proceeds
1. Funding of Capital expenditure towards setup of a new Warehouse at Ludhiana, Punjab; 2. Marketing and Advertisement expenses towards enhancing the awareness and visibility of our brand; 3. Utilization towards working capital requirements; and 4. General corporate purposes.
Recode Studios Ltd. Latest News
News
Recode Studios informs about analyst meet
Recode Studios soars on foraying into quick-commerce space with Nykaa Now
The initiative marks an important step in Recode’s omnichannel expansion, enabling faster product discovery, convenient fulfilment and wider digital reach
Recode Studios informs about press release
Recode Studios forays into quick-commerce space with Nykaa Now
The initiative marks an important step in Recode’s omnichannel expansion, enabling faster product discovery, convenient fulfilment and wider digital reach
Recode Studios informs about press release
Recode Studios opens first NewU store in Ghaziabad
The opening of the Ghaziabad store marks the beginning of a broader retail expansion strategy
Recode Studios opens seven premium retail kiosks
This strategic expansion reinforces Recode Studios' vision of building a strong omnichannel retail network across India
Recode Studios informs about press release
Recode Studios surges on inking pact to acquire up to 51% stake in Aflairza Professionals
This proposed investment marks another important step in the company’s long-term strategy of partnering with high-potential consumer brands
Recode Studios to acquire up to 51% stake in Aflairza Professionals
This proposed investment marks another important step in the company’s long-term strategy of partnering with high-potential consumer brands
IPO FAQs
The Recode Studios Ltd. IPO has a total of ₹32 crore, calculated at the upper end of the .
The Recode Studios Ltd. IPO is priced at ₹150–158 per share. bids must fall within this , against a of ₹10 per share.
The for the Recode Studios Ltd. IPO is 1,600 shares, which is also the minimum order quantity — you have to apply for at least 1,600 shares, and in multiples of 1,600 beyond that.
The minimum investment in the Recode Studios Ltd. IPO is about ₹2,40,000 — one lot of 1,600 shares, calculated at the lower end of the .
Bidding at the cut-off or upper price raises the amount blocked in your account.
The Recode Studios Ltd. opens on 5 May 2026 and closes on 7 May 2026.
Applications have to be in before 5:00 PM IST on the closing day, and your UPI mandate needs to be approved by then as well.
Recode Studios Ltd. shares were listed on 12 May 2026 on BSE.
Mudra RTA Ventures Pvt Ltd. is the for the Recode Studios Ltd. IPO.
The registrar processes the , refunds and the credit of shares to your demat account, so allotment-status queries go to them — phone 91-9958808069 and email ipo@mudrarta.com.
Recode Studios Ltd. IPO shares are listed on BSE.
Each Recode Studios Ltd. share has a of ₹10.
Face value is the nominal value recorded in the company's books and is separate from the issue price you pay.
held 88.93% of Recode Studios Ltd. before the IPO, which falls to 65.02% after the issue.
20,20,800 shares of Recode Studios Ltd. are being offered to the public in this issue.
The Recode Studios Ltd. IPO has been subscribed 217.89x overall — 137.99x, 298.07x and 216.64x.
figures update through the issue period until it closes.
- 1.Funding of Capital expenditure towards setup of a new Warehouse at Ludhiana, Punjab
- 2.Marketing and Advertisement expenses towards enhancing the awareness and visibility of our brand
- 3.Utilization towards working capital requirements
- 4.General corporate purposes
Seren Capital Pvt Ltd. is the book running lead manager for the Recode Studios Ltd. IPO.
Pre-apply means placing your Recode Studios Ltd. application before the subscription window actually opens. The bid is held and forwarded to the exchange on the opening day, so you don't have to submit it in the rush of the first morning.
Applying early doesn't improve your chances — when an issue is oversubscribed, the for investors is decided by a lottery, not by who applied first. Your money is only blocked once the application reaches the exchange.
You can apply in the Recode Studios Ltd. IPO online using either UPI or ASBA as the payment method. ASBA applications are made through the net banking of a bank account that supports IPO applications — the bank blocks the amount in your account instead of debiting it. UPI applications are offered by brokers that don't provide banking services: you enter your UPI ID and then approve the mandate request in your UPI app.
Either route needs a demat account. You bid for at least one lot, at a price within the or at the cut-off price, and the money stays blocked in your bank account until the is finalised.
Your broker or bank confirms the bid once it has been submitted to the exchange, usually within a few minutes during the bidding window. A UPI application only goes live after you approve the mandate request — ignore it and the bid lapses, even though it looks placed.
You can check the Recode Studios Ltd. bid independently on the NSE or BSE IPO bid-verification page a day after applying. An ASBA application also shows up as a blocked amount in your bank statement.