Recode Studios SME IPO GMP Today and Subject 2 Price
Recode Studios SME IPO Grey Market Premium (GMP) today stands at ₹ 35, showing healthy interest from investors in the grey market. The Kostak rate is currently not available, while the Subject to Sauda price is quoted at currently not available. On 1 May 2026, the IPO GMP recorded a high of ₹40 and a low of ₹11 on 29 April 2026, reflecting positive market momentum. You can check the day-wise GMP trend below to track price movement and investor sentiment over time.
Recode Studios SME IPO is scheduled to open for subscription on May 5, 2026. The public issue aims to raise around ₹44.59 Cr. and is offered in a price band of ₹150 to ₹158 per share, with a market lot of 800 shares. Investors are closely watching subscription data and grey market trends ahead of the listing.
GMP Trend Chart
Day-wise GMP Trend
| Date | GMP | ↑↓ | % | Kostak | Sub. Sauda |
|---|---|---|---|---|---|
| 02 May 2026 | ₹ 35 | 22% | ₹ 0 | ₹ 0 | |
| 01 May 2026 | ₹ 40 | 25% | ₹ 0 | ₹ 0 | |
| 30 Apr 2026 | ₹ 40 | 25% | ₹ 0 | ₹ 0 | |
| 29 Apr 2026 | ₹ 11 | 7% | ₹ 0 | ₹ 0 |
Recode Studios SME IPO Dates
| Event | Date |
|---|---|
| Open Date | 05 May, 2026 |
| Close Date | 07 May, 2026 |
| Allotment Date | 08 May, 2026 |
| Refund Date | 11 May, 2026 |
| Credit to Demat | 11 May, 2026 |
| Listing Date | 12 May, 2026 |
Recode Studios SME IPO Expected Listing Price
| Basis | Value |
|---|---|
| Issue Price (Upper Band) | ₹158 |
| Current GMP | ₹ 35 |
| GMP-Based Listing Estimate | ₹193 (+22.2%) |
| Listing Date | 12 May, 2026 |
Disclaimer: The listing price estimate above is based purely on the current grey market premium (GMP) and is not a guaranteed prediction. GMP is an unofficial, unregulated indicator and can change significantly in the 24–48 hours before listing. Do not make investment decisions based solely on GMP.
Is Recode Studios SME IPO GMP Reliable?
Grey market premium for Recode Studios SME IPO should be interpreted with caution. The GMP is an unregulated, unofficial market not governed by SEBI. Here's how to read the current signal:
- Subscription rate matters: A high GMP paired with strong subscription — especially QIB (Qualified Institutional Buyer) oversubscription — is a more reliable bullish signal than GMP alone. Read our in-depth analysis: GMP vs Subscription Data — Which Predicts Listing Gains Better?
- Timing matters: GMP in the first 1–2 days of subscription is less reliable. GMP on the final subscription day and the day before listing tends to be the most accurate predictor.
- Grey market is thin: For smaller IPOs, even a handful of large orders can swing the GMP significantly. Treat low-volume GMP signals with extra caution.
- Cross-check before acting: Review the Recode Studios SME IPO full review for a fundamentals-based assessment before making any grey market trades.
Recode Studios SME IPO IPO Kostak Rate Explained
The Kostak rate for Recode Studios SME IPO is currently not active. Kostak is the fixed amount a grey market buyer pays for an IPO application regardless of allotment outcome.
The Subject to Sauda price has not been quoted yet. Subject to Sauda only applies if allotment is confirmed — the buyer pays a premium on top of the issue price per lot allotted.
Grey market trading is unofficial and unregulated by SEBI. Proceed with full awareness of the associated risks.
About Recode Studios SME IPO
The company is promoted by Dheeraj Bansal, Rahul Sachdeva, Karan Bansal, Shalini Trehan, Shelly Bansal and Preeti Trehan. Recode follows an asset-light, omnichannel business model combining franchise stores, company-owned outlets and online marketplaces such as Amazon, Nykaa, Myntra and Flipkart, along with its own website and app. It sells through COCO and FOFO formats and focuses on branding, sourcing and distribution while expanding its retail presence across multiple states in India.
Strengths & Risks
Strengths
- ✓ Omnichannel presence with both offline stores and online platforms working together — so they reach customers everywhere.
- ✓ Mix of COCO (company-owned) and FOFO (franchise-owned) retail network — gives them wide store reach without spending too much.
- ✓ Diverse product range across beauty and personal care categories — so they don't depend on only one product to make money.
- ✓ Strong digital reach and good online customer engagement — useful in today's social media-driven beauty market.
- ✓ Led by experienced promoters and management team — Dheeraj Bansal, Rahul Sachdeva and Shelly Bansal running the show.
Risks
- ⚠ Business is fully dependent on recognition and acceptance of the "Recode" brand — if brand image gets damaged, sales will fall.
- ⚠ Heavy reliance on online retail channels and third-party e-commerce platforms exposes them to risks like platform policy changes, pricing pressure and bad customer reviews going viral.
- ⚠ They have limited control over franchise-operated (FOFO) stores — any wrongdoing by franchisee can hurt brand name.
- ⚠ No long-term agreements with customers — meaning customers can stop ordering anytime without notice.
- ⚠ Revenues are significantly dependent on recurring orders from B2B and online customers — losing even few big buyers can badly hit their topline.
Frequently Asked Questions about Recode Studios SME IPO
What is the GMP of Recode Studios SME IPO?
The current Grey Market Premium (GMP) of Recode Studios SME IPO is ₹ 35.
What is the Kostak Price of Recode Studios SME IPO?
Kostak rate is the profit made by selling an IPO application before allotment. The current Kostak rate for Recode Studios SME IPO is : Retail: ₹ 0, SHNI: ₹ 0, BHNI: ₹ 0.
What is the Subject to Sauda Price of Recode Studios SME IPO?
Subject to Sauda is the premium amount decided if the allotment is confirmed. The current Subject to Sauda rate is : Retail: ₹ 0, SHNI: ₹ 0, BHNI: ₹ 0.
What is the expected listing price of Recode Studios SME IPO based on GMP?
Based on the current GMP of ₹ 35, Recode Studios SME IPO is expected to list around ₹193 — approximately +22.2% above the issue price of ₹158. Grey market prices can shift before listing — treat this as an estimate only.
Is the GMP of Recode Studios SME IPO increasing or decreasing?
The GMP of Recode Studios SME IPO is currently falling. This declining trend may signal weakening grey market sentiment before listing.
Explore Recode Studios SME IPO Further
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