Beauty & Cosmetics - Listed on 12 May 2026
Recode Studios (Beauty & Cosmetics) closed its IPO window in 2026 and listed on NSE and BSE on 12 May 2026 at an upper band issue price of Rs 158, opening at Rs 213.1 for a listing gain of +34.9% and closing day one at Rs 223.75 (+41.6% on closing basis). The IPO was subscribed 221.44x overall - QIB 91.72x, HNI/NII 405.10x, Retail 216.51x. The total issue size was Rs 44.59 Cr (Fresh Issue Rs 39.55 Cr, OFS Rs 5.04 Cr). IPO GMP data, subscription trends across Day 1 - Day 3 and Nifty performance around the listing window are detailed below.
Beauty & Cosmetics
Recode Studios operates in the Beauty & Cosmetics space. The company’s listed profile is shaped by its operating niche, customer demand and ability to convert that demand into steady cash flows. Investors should read its exchange filings alongside the headline listing numbers for a fuller view of the business.
Issue structure, listing outcome and context
The Recode Studios issue was offered at an upper price of Rs 158 and raised approximately Rs 44.59 crore. The final outcome reflected a mix of subscription demand, valuation, market conditions and the company’s own operating story. Fresh issue and offer-for-sale details, where available, are shown in the issue metrics below.
Number of times each investor category subscribed by close of Day 3.
How overall subscription built up across the three-day issue window.
Grey market premium (GMP) tracked day-by-day across the IPO window. Absolute GMP is the premium in rupees over the upper issue price; GMP % is that premium as a percent of the issue price.
| Day | GMP (Rs) | GMP % |
|---|---|---|
| Day 1 | Rs 37 | +23.42% |
| Day 2 | Rs 37 | +23.42% |
| Day 3 | Rs 45 | +28.48% |
| Day 4 | Rs 45 | +28.48% |
| Day 5 | Rs 46 | +29.11% |
Comparison between market-based GMP prediction and IPOGyani's AI-powered listing gain prediction.
How the broader market moved around the Recode Studios IPO window. Helpful for isolating how much of the listing gain came from company fundamentals vs. market tailwind.
Recode Studios IPO listed at +34.9% versus the upper issue price of Rs 158 on 12 May 2026.
Recode Studios IPO was subscribed 221.44x overall. QIB portion was subscribed 91.72x, HNI / NII 405.10x and Retail 216.51x.
IPO GMP started at Rs 37 on Day 1 and moved to Rs 46 by the close of the issue window. See the day-by-day GMP table above for the full trajectory.