Recode Studios IPO subscribed 156 times so far on Day 3: Check allotment date and steps

Recode Studios IPO: The initial public offering of beauty and personal care company Recode Studios has been subscribed 156.37 times so far on on Thursday, May 7, the final day of bidding.

It got bids for 31,59,88,000 shares as against 20,20,800 shares on offer, according to the BSE website.

The part reserved for non-institutional investors was subscribed 229.97 times, while the individual investors' quota was booked 163.95 times. The category for qualified institutional buyers (QIBs) saw 67.72 times the subscription.

The ₹44.59 crore initial share sale is a mix of fresh issuance of shares valued at ₹39.55 crore and an offer for sale (OFS) of 3.19 lakh shares aggregating to ₹5.04 crore by promoters Rahul Sachdeva, Preeti Trehan and Karan Bansal.

The funds raised will be deployed for funding of capital expenditure towards establishing a new warehouse facility, market and advertisement, working capital requirements and general corporate purposes.

With a price band of ₹150 to ₹158 per share, a lot consisted of 800 shares. The minimum investment for an individual investor was 1,600 shares.

Recode Studios operates in the beauty, cosmetics and personal care segment in India. The company sells its products under the 'Recode' brand. It operates through an omnichannel distribution network, which consists Company-Owned Company-Operated (COCO) retail stores, Franchisee-Owned Franchisee-Operated (FOFO) stores, proprietary website and mobile application, and third-party e-commerce platforms.

Recode Studios IPO: Allotment and listing dates

Recode Studios IPO allotment status is expected to be finalised in Friday, May 8. The listing on the SME platform of BSE will occur on May 12.

How to check Recode Studios IPO allotment status online on BSE

• Go to BSE's IPO status page: https://bseindia.com/investors/appli_check.aspx.
• Keep the issue type as 'Equity'
• From the ‘Issue Name’ list, select ‘Recode Studios Ltd’
• Fill in PAN details or IPO application number
• Hit the 'Search' button

Steps to check Recode Studios IPO allotment status online on

• Head to this link: https://www.mudrarta.com/ipo.php
• In the select company section, pick ‘Recode Studios Limited'
• Verify yourself using DPID/Client ID, application number or PAN
• Click on 'Search'