About Recode Studios IPO
Incorporated in 2021, Recode Studios Ltd. is an Indian beauty and personal care company operating under the brand name “Recode.” The company is engaged in the branding, sourcing, and sale of beauty and wellness products across India.
The company offers a diversified portfolio of products across categories such as makeup, skincare, body care, and beauty accessories. Its range includes products for face, eye, and lip makeup, along with personal care solutions available across multiple price segments. As of the date of the DRHP, the company offered more than 350 SKUs across its product portfolio.
Recode Studios follows an omnichannel retail strategy, enabling customers to purchase products through both offline and online platforms. Its offline presence includes Company-Owned Company-Operated (COCO) stores and Franchisee-Owned Franchisee-Operated (FOFO) outlets, while online sales are driven through its website, mobile application, and third-party e-commerce marketplaces.
Services / Offerings
Beauty & Personal Care Products:
Offers a wide range of makeup, skincare, body care, and beauty accessory products catering to different customer preferences and price categories.
Omnichannel Retail Network:
Operates through a combination of offline retail stores, franchise outlets, e-commerce marketplaces, and digital platforms to enhance customer accessibility.
Digital Commerce & Customer Engagement:
Leverages its website, mobile app, and online marketplaces such as Amazon, Nykaa, Myntra, and Flipkart to strengthen digital reach and customer interaction.
Operations & Workforce
As of September 30, 2025, the company operated 24 stores across 14 states in India, comprising 3 COCO stores and 21 FOFO outlets.
The company follows an asset-light operational model, with its products manufactured through third-party manufacturing partners located in India
Recode Studios IPO Subscription Breakdown
| Investory Category | Subscription Percentage | Amount Raised (₹ Crores) |
|---|---|---|
| Qualified Institutional Buyers (QIBs) | 50% | 10,10,400 crores |
| Non-Institutional Investors (NIIs) | 35% | 7,07,280 crores |
| Retail Individual Investors (RIIs) | 15% | 3,03,120 crores |
Recode Studios IPO Financial Highlights
No Data Found
Recode Studios IPO Strengths & Weaknesses
Strong omnichannel presence across offline and online platforms
Diversified beauty and personal care product portfolio
Growing digital reach and customer engagement capabilities
Wide availability across leading e-commerce marketplaces
Experienced leadership and management team
Recode Studios IPO Important Dates & Issue Details
| Allotment Date | Listing Date | Refund Date |
|---|---|---|
| -- | -- | -- |
| Issue Composition: | |
|---|---|
| Face Value | ₹10 per share |
| Total Issue Size | 20,20,800 shares (aggregating up to ₹2,52,800 crores) |
| Fresh Issue | 3.7 shares (aggregating up to ₹37 crores) |
| Offer for Sale | 0.5 shares of ₹10 (aggregating up to ₹5 crores) |
| Issue Type | Book building |
| Post-Issue Shareholding Pattern: | |
|---|---|
| Pre-Issue Shareholding | 88.93 shares |
| Post-Issue Shareholding | 0 shares |
Recode Studios IPO Lot Size and Investment Details
| Minimum Lot Size | -- |
| Maximum Lot Size (Retail) | -- |
The lot size of Recode Studios ipo has been designed to ensure broad participation while maintaining optimal price discovery.
How to Apply for Recode Studios IPO
- Log in to your Choice account
- Select IPO
- Enter the number of lots and your price
- Verify UPI ID
- Complete the transaction on your UPI app
Recode Studios IPO Contact & Registrar Details
Contact Details
Address
R-89 Phase V Focal Point Ludhiana
Phone Number
Website
Registrar Details
Registrar Name
Mudra RTA Ventures Private Limited
Phone Number
Website
Optivalue Tek Consulting Ltd IPO Lead Manager(s)
| Book Running Lead Manager(s) |
|---|
| Seren Capital Pvt Ltd |