Recode Studios IPO Subscription Status
Recode Studios IPO was subscribed 217.89 times when bidding closed on 7 May 2026: QIB 137.99x, NII 298.07x, Retail 216.65x.
The Recode Studios IPO has been subscribed 217.89x times overall. Retail investors have shown interest with bids for 216.65x the shares available. The Non-Institutional Investor (NII) category has been subscribed 298.07x. Within NII, Big HNI (B-HNI) subscribed 486.06x and Small HNI (S-HNI) subscribed 243.23x. Qualified Institutional Buyers (QIBs) have subscribed 137.99x. Data last updated on 03 Sep, 02:08 PM.
The IPO subscription period has ended. Given the strong demand, the allotment process is expected to be highly competitive. The issue opened on 05 May, 2026 and closes on 07 May, 2026. The shares are expected to list on stock exchanges on 12 May, 2026.
Researched & reviewed by
Abhishek Vohera,
Founder, IPO Guru
Last updated
Figures sourced from the RHP, BSE & NSE
Live bidding
Shares bid against shares offered, category by category, as published by the exchanges. Summary splits NII into bHNI (above ₹10 lakh) and sHNI (₹2–10 lakh); switch to Detailed for the exchange's own sub-category rows.
| Category | Bid details | Times |
|---|---|---|
| QIB | 7,38,49,600 of 5,35,200 | 137.99x |
| NII | 16,33,43,200 of 5,48,000 | 298.07x |
bHNI — bid amount above ₹10 Lakh |
13,06,53,600 | 486.06 |
sHNI — bid amount ₹2–10 Lakh |
3,26,89,600 | 243.23 |
| Retail | 20,31,28,000 of 9,37,600 | 216.65x |
| TOTAL | 44,03,20,800 | 217.89x |
Application-wise breakup (estimated)
Approximate application counts — the exchanges don't publish these during bidding. Estimated from shares bid using the typical application size seen in recent IPOs' Basis of Allotment data. Max Applications is the number of allotment slots: one lot per retail winner, and the minimum NII application (the smallest lot count above ₹2 lakh) per sHNI and bHNI winner. Final counts appear here once the Basis of Allotment is out.
| Category | Est. Applied | Times | |
|---|---|---|---|
| bHNI (₹10 L+) max 168 | 18,528 | 110.29x | |
| sHNI (₹2–10 L) max 84 | 12,673 | 150.87x | |
| Retail max 1,172 | 1,26,240 | 107.71x | |
| TOTAL (EST.) | 1,57,441 |
Recode Studios IPO allotment probability
Your odds of an allotment in each category at the current subscription.
Odds = allotment slots ÷ applications, or the subscription multiple where counts aren't available. Retail and HNI allotment is by lottery; QIB is proportionate. Not investment advice.
Subscription insights
What the current book is saying, read off the category numbers above.
Retail Allotment
High demand detected. The retail category is heavily oversubscribed, making the allotment a lottery where only 1 out of every 217 applicants will be successful.
Institutional Backing
Massive institutional interest with QIBs subscribing 137.99x. This often signals long-term confidence from professional funds.
Day-wise subscription history
End-of-day subscription across the 3-day bidding window. On phones, tap a day for the category split.
| Date | Total | ||
|---|---|---|---|
|
07 May 2026
Day 3 |
217.89x | ▼ | |
|
QIB137.99x
NII298.07x
Retail216.64x
|
|||
|
06 May 2026
Day 2 |
31.08x | ▼ | |
|
QIB3.54x
NII41.77x
Retail40.56x
|
|||
|
05 May 2026
Day 1 |
7.18x | ▼ | |
|
QIB3.51x
NII7.42x
Retail9.13x
|
|||
Recode Studios SME IPO dates
From the bidding window to listing. Today is 30 October.
- Open 05 May 2026
- Close 07 May 2026
- Allotment 08 May 2026
- Refund/credit 11 May 2026
- Listing 12 May 2026
Anchor investor allocation
Shares allotted to anchor investors the working day before the issue opened.
| # | Anchor Investor | Group Entity | Amt (₹ cr.) | % Allocated | |
|---|---|---|---|---|---|
| 1 | SANSHI FUND-I | SANSHI | ₹4.01 Cr | 31.64% | |
| 2 | MINT FOCUSED GROWTH FUND PCC-CELL 1 | MINT FOCUSED | ₹3.80 Cr | 30.04% | |
| 3 | SHREM INVESTMENTS PVT.LTD. | SHREM INVESTMENTS | ₹1.82 Cr | 14.37% | |
| 4 | FORTUNE HANDS GROWTH FUND-FORTUNE HANDS GROWTH FUND SCHEME I | FORTUNE HANDS | ₹1.52 Cr | 11.98% | |
| 5 | AARTH AIF GROWTH FUND | AARTH | ₹1.52 Cr | 11.98% | |
| TOTAL | ₹12.67 Cr | 100.01% |
What does this subscription data mean?
IPO subscription data tells you how much demand exists for the shares being offered, broken down by investor category. Understanding each category helps you gauge the real sentiment behind the numbers:
- 01 QIB (Qualified Institutional Buyers) — includes mutual funds, FIIs, insurance companies, and banks. QIBs do deep due diligence before bidding. A QIB subscription above 10x is a strong institutional endorsement. Watch QIB numbers closely on the final day — they often hold back and flood in after 3 PM.
- 02 NII / HNI (Non-Institutional Investors) — high-net-worth individuals bidding above ₹2 lakh. NII allotment is proportionate (not lottery), so higher NII subscription means smaller per-lot allotment. Big HNI (B-HNI) bids above ₹10 lakh; Small HNI (S-HNI) bids ₹2–10 lakh.
- 03 Retail — individual investors bidding up to ₹2 lakh. When retail is below 1x, everyone who applied gets full allotment. When oversubscribed, SEBI mandates a computerised lottery — only 1 lot per successful applicant regardless of how many lots you apply for.
- 04 Overall Subscription — a blended multiple across all categories. A total subscription above 10x is considered strong; above 50x is exceptional and usually predicts strong listing gains.
Data sourced from BSE/NSE. Subscription numbers are updated during bidding hours (10 AM – 5 PM IST) on active subscription days.
Frequently asked
What is the current subscription status of Recode Studios IPO?
As of IPO close date (07 May, 2026), the Recode Studios IPO is subscribed 217.89x times. Retail category is 216.65x, and NII is 298.07x subscribed.
When is the allotment date for Recode Studios IPO?
The allotment for Recode Studios IPO is expected to be finalized on 08 May, 2026.
What is the GMP of Recode Studios?
The Grey Market Premium (GMP) for Recode Studios is currently ₹42, indicating a potential listing gain of 27%.
When will Recode Studios IPO list on the stock market?
Recode Studios is scheduled to list on BSE and NSE on 12 May, 2026.
What are the chances of getting allotment in Recode Studios IPO?
The retail category is oversubscribed at 216.65x, meaning allotment is by lottery. Statistically, approximately 1 in 217 applicants will receive allotment. Applying with multiple family member accounts (each at minimum lot size) improves your cumulative odds.
What does QIB subscription of 137.99x mean for Recode Studios IPO?
Strong — QIBs (mutual funds, FIIs, insurance companies) have subscribed 137.99x, indicating high institutional conviction. Heavy QIB demand is historically one of the strongest predictors of a positive listing.
How to check Recode Studios IPO allotment status?
After the allotment date (08 May, 2026), you can check your Recode Studios IPO allotment status on IPO Guru's allotment checker, on the BSE/NSE website using your PAN or application number, or through your broker's app.
Explore Recode Studios SME IPO further
Track every stage of this IPO, from subscription to listing.
It has listed — go back to the fundamentals.
Live grey market premium, Kostak and Subject to Sauda, with the day-wise trend.
What brokers and analysts are saying about this issue, in one place.
Check with your PAN whether shares were credited to your demat account.
Subscription moves by the hour. Get it on your phone.
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Not investment advice. Subscription figures are as published by BSE/NSE and change until bidding closes.
