Recode Studios SME GMP - Live Grey Market Premium

Ongoing
Recode Studios SME

Recode Studios Ltd., incorporated in 2021, is a rapidly growing Indian beauty and personal care brand operating under the name 'Recode.' The company follows an omnichannel model, selling over 350 SKUs including makeup, skincare, and beauty accessories through company-owned stores (COCO), franchise outlets (FOFO), and major e-commerce platforms like Nykaa, Amazon, and Myntra. As of late 2025, the company operates 24 stores across 14 states. Recode focuses on a premium-yet-affordable positioning, utilizing third-party manufacturers to maintain an asset-light structure.

Issue Price
158
Current GMP
44
GMP %
+27.85
Est. Listing Price
202
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IPO Details

Price Range
₹150.0 - ₹158.0
Issue Size
₹42.31 Cr
Lot Size
800 shares
IPO Type
BSE SME
Open Date
5 May 2026
Close Date
7 May 2026
Allotment Date
8 May 2026
Listing Date
12 May 2026

GMP Timeline

DateIPO PriceGMPEst. Price% Change
6 May 2026Live
158
44
202
+27.85
5 May 2026
158
42
200
+26.58
4 May 2026
158
40
198
+25.32
3 May 2026
158
45
203
+28.48
2 May 2026
158
45
203
+28.48
1 May 2026
158
40
198
+25.32
30 Apr 2026
158
35
193
+22.15
29 Apr 2026
158
11
169
+6.96
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Important Notes About Grey Market Premium

Grey Market Premium (GMP) is an unofficial value that indicates investor sentiment before the IPO listing. It is the premium amount at which IPO shares are traded in the grey market before they are officially listed on the stock exchange.

GMP fluctuates based on market conditions and investor sentiment. A positive GMP suggests the market expects the stock to list above its issue price, while a negative GMP suggests it may list below the issue price.

The actual listing price may differ from the estimated price based on GMP due to market conditions on the listing day. GMP is not an official indicator and should not be the sole basis for investment decisions.

IPOwiz updates the GMP values regularly, but these values are sourced from unofficial channels and should be used as a reference only.

Back to GMP TrackerView Full IPO Details

Frequently Asked Questions

What is GMP (Grey Market Premium)?
GMP (Grey Market Premium) is the premium at which IPO shares are traded in the unofficial market before official listing. It indicates market sentiment and expected listing price. A positive GMP suggests strong demand, while negative GMP indicates weak market sentiment.
What is the current GMP for Recode Studios SME?
The current GMP for Recode Studios SME is ₹44. This represents a 27.85% premium over the issue price of ₹158.
What is the estimated listing price based on current GMP?
Based on the current GMP of ₹44 and issue price of ₹158, the estimated listing price for Recode Studios SME is ₹202. However, the actual listing price may differ based on market conditions on 12 May 2026.
How is GMP calculated?
GMP is determined by market demand and supply in the unofficial grey market. It's the difference between the expected listing price and the issue price. Higher GMP indicates strong demand and investor confidence, while lower or negative GMP suggests weak demand.
Is GMP reliable for IPO investment decisions?
GMP provides market sentiment but shouldn't be the sole factor for investment decisions. It's unofficial and can change daily. Consider company fundamentals, financials, market conditions, and your risk appetite before investing. GMP is a reference indicator, not a guarantee.
Can GMP change before listing?
Yes, GMP is highly volatile and can change daily based on market conditions, subscription levels, overall market sentiment, and news about the company. The GMP you see today may be different tomorrow, and it can change until 12 May 2026.
What happens if GMP is negative?
A negative GMP indicates the stock may list below the issue price, suggesting weak market demand. However, actual listing price may differ from GMP predictions, and negative GMP doesn't guarantee a loss.
How does GMP affect IPO subscription?
High GMP often correlates with high subscription rates as investors expect good listing gains. However, this isn't always true. Some IPOs with high GMP may have lower subscription if investors are cautious. GMP reflects market sentiment, which can influence subscription behavior.
What is the estimated profit based on GMP?
For a lot size of 800 shares (2 lots for SME IPO), the estimated profit based on current GMP of ₹44 is ₹70,400. This is calculated as: Lot Size × GMP × Number of Lots. Note: This is an estimate and actual listing price may vary.