Recode Studios SME IPO Subscription
ListedUpdated 12 May 2026, 9:15 AM IST· BSE SME
Recode Studios SME IPO subscription closed on 7 May 2026 at 234.71x overall by shares. QIB demand came in at 137.99x, NII at 405.12x, and retail at 216.65x. See Retail, SHNI, and BHNI allotment chances in the table…
Recode Studios SME IPO subscription closed on 7 May 2026 at 234.71x overall by shares. QIB demand came in at 137.99x, NII at 405.12x, and retail at 216.65x. See Retail, SHNI, and BHNI allotment chances in the table below.
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Allotment date is 8 May 2026. Listing date on NSE and BSE is 12 May 2026.
Recode Studios SME IPO Day-wise Subscription
Daily QIB, NII, Retail, and overall subscription as bids come in
| Day | QIB | NII | Retail | Overall |
|---|---|---|---|---|
| Day 1 - 5 May 2026 | 3.51x | 10.09x | 9.13x | 7.74x |
| Day 2 - 6 May 2026 | 3.54x | 56.41x | 40.56x | 33.40x |
| Day 3 - 7 May 2026 | 137.99x | 404.76x | 216.64x | 234.63x |
Recode Studios SME IPO Allotment Chances
Retail, SHNI, and BHNI chances based on application subscription
Recode Studios SME IPO allotment chances for Retail, SHNI, and BHNI. All three use lottery when the category is oversubscribed.
| Category | Subscription (Apps) | Allotment Chances |
|---|---|---|
| Retail (IND) | 216.65x | 1 in 217 |
| SHNI (Rs 2L to Rs 10L) | 228.75x | 1 in 229 |
| BHNI (above Rs 10L) | 172.54x | 1 in 173 |
Chances use application subscription (how many bids came in), not share or amount figures. If you get allotment, you get at least one lot. Higher subscription means lower chance per PAN.
Check the Recode Studios SME IPO Allotment Status page from 8 May 2026 for your result.
Recode Studios SME IPO Subscription by Amount
Category-wise subscription based on amount applied at issue price Rs 158.00
| Category | Amount Offered | Amount Applied | Subscription |
|---|---|---|---|
| QIB | Rs 8.46 Cr | Rs 1,166.82 Cr | 137.99x |
| FII | - | Rs 257.75 Cr | - |
| DFI | - | Rs 132.37 Cr | - |
| Mutual Funds | - | Rs 1.07 Cr | - |
| Other | - | Rs 775.63 Cr | - |
| NII | Rs 6.37 Cr | Rs 2,580.82 Cr | 405.12x |
| bNII (above Rs 10L) | Rs 4.25 Cr | Rs 2,064.33 Cr | 486.06x |
| Corporate | - | Rs 15.67 Cr | - |
| Individual | - | Rs 2,030.14 Cr | - |
| Other | - | Rs 18.52 Cr | - |
| sNII (Rs 2L to Rs 10L) | Rs 2.12 Cr | Rs 516.50 Cr | 243.23x |
| Corporate | - | Rs 3.19 Cr | - |
| Individual | - | Rs 508.49 Cr | - |
| Other | - | Rs 4.82 Cr | - |
| IND | Rs 14.81 Cr | Rs 3,209.42 Cr | 216.65x |
| Fixed price | - | Rs 3,209.42 Cr | - |
| Total | Rs 29.64 Cr | Rs 6,957.07 Cr | 234.71x |
Recode Studios SME IPO Subscription by Applications
Category-wise subscription based on applications received
| Category | Applications Offered | Applications Received | Subscription |
|---|---|---|---|
| QIB | 669 | 117 | 0.17x |
| FII | - | 25 | - |
| DFI | - | 7 | - |
| Mutual Funds | - | 3 | - |
| Other | - | 82 | - |
| NII | 168 | 32,135 | 191.28x |
| bNII (above Rs 10L) | 112 | 19,325 | 172.54x |
| Corporate | - | 124 | - |
| Individual | - | 19,021 | - |
| Other | - | 180 | - |
| sNII (Rs 2L to Rs 10L) | 56 | 12,810 | 228.75x |
| Corporate | - | 83 | - |
| Individual | - | 12,603 | - |
| Other | - | 124 | - |
| IND | 586 | 1,26,955 | 216.65x |
| Fixed price | - | 1,26,955 | - |
| Total | 1,423 | 1,59,207 | 111.88x |
What Do These Subscription Numbers Mean?
234.71x overall by shares means bids covered about 235 times the shares on offer. Allotment chances depend on applications in each category.
QIB at 137.99x by shares shows institutional demand from mutual funds, FIIs, and banks.
NII covers bids above Rs 2 lakh (191.28x by applications). Split: SHNI 228.75x, BHNI 172.54x by applications. SHNI and BHNI allotment is by lottery.
At 216.65x subscription by applications, about 1 in 217 retail applicants may get allotment (~1% chance per application). Retail allotment is also by lottery.
Recode Studios SME IPO GMP After Subscription
GMP for Recode Studios SME stands at Rs 43.00 today, giving an estimated listing price of Rs 201.00 per share.
The GMP has moved up from Rs 11.00 on 29 Apr 2026 to Rs 43.00 on 8 May 2026.
A subscription of 234.71x combined with a GMP of 27.22% is a strong combination heading into listing. QIB demand above 50x in particular tends to support listing sentiment, as institutional investors are seen as informed buyers.
Track live GMP on the Recode Studios SME IPO GMP Today page or the IPOwiz Live IPO GMP Tracker.
Recode Studios SME IPO Key Dates
| Event | Date |
|---|---|
| IPO Open Date | 5 May 2026 |
| IPO Close Date | 7 May 2026 |
| Allotment Date | 8 May 2026 |
| Refund Initiation | 9 May 2026 |
| Share Credit to Demat | 9 May 2026 |
| Listing Date | 12 May 2026 |
| Minimum Investment | Rs 2,52,800.00 |
| Lot Size | 800 shares |
About 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.
Understanding Subscription Categories
QIB - Qualified Institutional Buyers
Includes foreign institutional investors, domestic financial institutions, mutual funds, and other qualified institutions. QIB demand is considered the most reliable indicator of institutional confidence in an IPO.
NII - Non-Institutional Investors (SHNI & BHNI)
Investors bidding above Rs 2 lakh. Split into SHNI (Rs 2 lakh to Rs 10 lakh) and BHNI (above Rs 10 lakh). Both use lottery allotment when oversubscribed.
IND - Individual Investors
Investors bidding up to Rs 2 lakh per PAN. Allotment is by lottery when oversubscribed. Winners get at least one lot.
Recode Studios SME IPO Pages
Open related pages for this IPO: details, GMP, subscription, allotment, review, FAQ, registrar, timeline, and news.
Recode Studios SME Details
Issue size, price, financials, and company info
Recode Studios SME GMP
Live grey market premium and listing estimate
Recode Studios SME Subscription
QIB, NII, Retail, SHNI and BHNI subscription
Recode Studios SME Allotment
Allotment date, chances, and check by PAN
Recode Studios SME Review
SWOT, strengths, risks, and IPO review
Recode Studios SME FAQ
Common questions on dates, GMP, and allotment
Recode Studios SME Registrar
Registrar website and how to check allotment
Recode Studios SME Timeline
Open, close, allotment, and listing dates
Recode Studios SME News
Updates, blogs, and latest IPO news
Recode Studios SME IPO Subscription FAQs
What is Recode Studios SME IPO subscription status today?
Recode Studios SME IPO subscription closed on 7 May 2026 with overall subscription of 234.71x (by shares) as of 26 August 2026, 8:32 PM IST. QIB 137.99x, NII 191.28x, IND 216.65x.
What is the overall subscription of Recode Studios SME IPO?
Recode Studios SME IPO is subscribed 234.71x overall by shares at close on 7 May 2026. QIB 137.99x, NII 191.28x, and IND 216.65x.
What is Recode Studios SME IPO QIB subscription?
Recode Studios SME IPO QIB (Qualified Institutional Buyers) subscription is 137.99x by shares. QIB includes mutual funds, FIIs, banks, and other institutions.
What is Recode Studios SME IPO IND subscription?
Recode Studios SME IPO IND subscription is 216.65x by applications. Retail bids are up to Rs 2 lakh per PAN.
What is Recode Studios SME IPO NII, SHNI, and BHNI subscription?
Recode Studios SME IPO NII subscription is 191.28x by applications. NII is bids above Rs 2 lakh, split into SHNI (Rs 2L to Rs 10L) at 228.75x and BHNI (above Rs 10L) at 172.54x.
What are Recode Studios SME IPO retail allotment chances?
At 216.65x subscription by applications, about 1 in 217 retail applicants may get allotment (~1% chance per application). Allotment is by lottery.
What are Recode Studios SME IPO SHNI allotment chances?
At 228.75x subscription by applications, about 1 in 229 SHNI applicants may get allotment (~1% chance per application). Allotment is by lottery. Share subscription was 243.23x. Allotment chances use applications, not share volume.
What are Recode Studios SME IPO BHNI allotment chances?
At 172.54x subscription by applications, about 1 in 173 BHNI applicants may get allotment (~1% chance per application). Allotment is by lottery. Share subscription was 486.06x. Allotment chances use applications, not share volume.
When is Recode Studios SME IPO allotment date?
Recode Studios SME IPO allotment date is 8 May 2026. Check Recode Studios SME IPO Allotment Status on IPOwiz from that day using your PAN.
When does Recode Studios SME IPO subscription close?
Recode Studios SME IPO subscription closed on 7 May 2026. No new applications are accepted after the close.
What is Recode Studios SME IPO GMP today?
Recode Studios SME IPO GMP is ₹43 today (+27.22% over issue price ₹158). See live GMP on the Recode Studios SME IPO GMP Today page.
What is Recode Studios SME IPO issue price and lot size?
Recode Studios SME IPO issue price is ₹158 per share. Lot size is 800 shares. Minimum investment is ₹2,52,800 per lot (minimum 2 lots for SME). Issue size: ₹42.31 Cr.
When is Recode Studios SME IPO listing date?
Recode Studios SME IPO listing date is 12 May 2026 on NSE and BSE. Allotment is on 8 May 2026.
How does subscription affect Recode Studios SME IPO allotment?
In Recode Studios SME IPO, Retail, SHNI, and BHNI allotment is by lottery when oversubscribed. Chances follow application subscription in each category, not share volume. At 234.71x overall, competition is very high.
For allotment results from 8 May 2026, visit the Recode Studios SME IPO Allotment Status page. For listing day updates on 12 May 2026, download the IPOwiz App.
Sources
We match Recode Studios SME IPO numbers with official sources. For final dates and allotment results, double-check the registrar or exchange.
- SEBIRules for IPO allotment and disclosures in India
- NSEExchange notices, bidding data, and listing updates
- BSEExchange notices and IPO allotment check tools
- RHP / Offer DocumentCheck the company RHP on NSE/BSE or the IPO detail page
- IPO RegistrarRegistrar details are on the allotment page for this IPO
Also read our Editorial Policy, How GMP is calculated, How allotment chances work, and IPO fund allocation.
Reviewed by
Dinesh Agrawal · Lead IPO Analyst
15+ years in Indian markets and IPO research. He reviews subscription data before it goes live.