The scrip was listed at Rs 213.10, a 34.87% premium to the initial public offer (IPO) price. The stock is currently frozen at its upper limit of 5% over its listing price.

The counter hit a high of Rs 223.75 and a low of Rs 213.10. About 15.29 lakh shares of the company changed hands at the counter.

Recode Studios' IPO was subscribed 217.89 times. The issue opened for bidding on 5 May 2026 and it closed on 7 May 2026. The price band of the IPO is was between Rs 150 to 158 per share.

The company intends to utilise the net proceeds for funding capital expenditure towards setting up a new warehouse facility at Ludhiana, Punjab, marketing and advertisement expenses to enhance brand awareness and visibility, meeting working capital requirements, and general corporate purposes.

Ahead of the IPO, Recode Studios on 4 May 2026, raised Rs 12.66 crore from anchor investors. The board allotted 8.01 lakh shares at Rs 158 per share to 5 anchor investor.

Recode Studio operates under the 'Recode' brand and sells beauty and personal care products through an omni-channel distribution network. The company offers makeup, skincare, body care and beauty accessories across more than 350 SKUs. Its sales channels include company-owned stores, franchise outlets, its website and app, and e-commerce platforms such as Amazon, Nykaa, Myntra and Flipkart. As of 30 September 2025, the company operated 24 stores across 14 states, including 3 COCO stores and 21 FOFO stores. Its products are manufactured through third-party contract manufacturers in India. As on 31 March 2026, the company had 156 permanent employees.

The company recorded revenue from operations of Rs 57.39 crore and net profit of Rs 9.06 crore for the period ended 31 December 2025.

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