Recode Studios IPO Day 1: GMP ₹37
Well, the much-anticipated IPO of Recode Studios on the BSE SME platform has officially kicked off! Today marks Day 1 of the subscription period, and as expected, the initial hours have seen a lot of eyes on the numbers. For those eagerly awaiting their chance to invest in this beauty and makeup brand, let’s dive straight into what the first day has revealed. It’s still early days, but the initial pulse is always worth understanding.
| Date | GMP | Est. Listing |
|---|---|---|
| 11 May | +₹46 | ₹204 |
| 09 May | +₹40 | ₹198 |
| 08 May | +₹45 | ₹203 |
| 07 May | +₹45 | ₹203 |
| 06 May | +₹38 | ₹196 |
Subscription Status
As of the end of Day 1, the subscription figures for Recode Studios IPO are showing a flat zero across all categories – Retail, NII (Non-Institutional Investors), and QIB (Qualified Institutional Buyers). That’s right, 0x for everyone. While this might sound concerning at first glance, it’s actually quite common for SME IPOs, especially on the very first day. Investors, particularly the larger ones like QIBs and NIIs, often wait for a clearer picture to emerge. They tend to deploy their capital strategically, often closer to the closing date, to gauge market sentiment and the overall demand. For Retail investors, the initial hours might be about research and decision-making. A zero subscription doesn’t necessarily mean a lack of interest; it could simply mean that the bulk of the applications haven’t been submitted yet. We’ll need to see how this pans out over the next two days.
| Category | Subscription | Progress |
|---|---|---|
| Retail | 216.51x | |
| NII / HNI | 405.10x | |
| QIB | 91.72x | |
| Total | 221.44x |
| Date | Retail | NII | QIB | Total |
|---|---|---|---|---|
| 07 May | 216.51x | 405.10x | 91.72x | 221.44x |
| 06 May | 9.13x | 10.09x | 3.51x | 7.74x |
| 05 May | 9.13x | 10.09x | 3.51x | 7.74x |
GMP Update
Now, let’s talk about the Grey Market Premium (GMP). The current GMP for Recode Studios IPO stands strong at ₹37. Interestingly, this is unchanged from yesterday’s GMP, which was also ₹37. This stability is a good sign. It suggests that the market sentiment towards Recode Studios remains consistent and positive, even before significant subscription numbers start rolling in. Based on the issue price of ₹158 and a GMP of ₹37, the expected listing price is around ₹195. This offers a potential upside of about 23.4% on listing day, which is quite attractive for many investors eyeing quick gains. The fact that the GMP hasn’t dipped despite zero subscription today is encouraging, indicating underlying investor confidence in the company’s prospects.
Should You Apply?
So, the million-dollar question: should you be applying for Recode Studios IPO? It’s a balanced view here. On one hand, the zero subscription on Day 1, while common, means there’s no immediate surge to chase. You have time to evaluate. However, the steady GMP of ₹37, pointing to a healthy listing gain, is a strong positive. Remember, the IPO period is from May 5th to May 7th, 2026, giving you two more full days to decide. The lot size is 800 shares, so keep that in mind for your investment calculation. It’s always wise to do your own due diligence. Check out the company’s financials, its business model, and its future growth plans. As SEBI advisors often suggest, understand your risk appetite before committing funds. The current data suggests a promising listing, but as always, the market can be unpredictable. You can View Full Recode Studios IPO Details for a deeper dive. The bottom line is, if the GMP continues to hold steady or rise and you’re comfortable with the risks associated with SME IPOs, it could be a worthwhile opportunity.