Omnichannel presence integrating offline and online platforms
The Company has an integrated omnichannel presence comprising Company-Owned Company-Operated ("COCO") stores,
Franchisee-Owned Franchisee-Operated ("FOFO") stores, and digital sales channels including its proprietary website, mobile
Company to distribute its products through multiple sales channels while maintaining uniformity in branding, product assortment
IPO Timeline
Open Date5 May 2026
Close Date7 May 2026
Allotment8 May 2026
Refund11 May 2026
Credit to Demat11 May 2026
Listing Date12 May 2026
Objects of the Issue
The Offer comprises a Fresh Issue of up to 25,03,200 Equity Shares of face value of ₹10 each, aggregating up to ₹ Lakhs by our Company and an Offer for Sale of up to 3,19,200 Equity Shares of face value of ₹ 10 each aggregating to up to ₹ Lakhs by the Selling Shareholders. Offer for Sale the company will not receive any proceeds of the Offer for Sale portion by the Selling Shareholders. Each of the selling Shareholders will be entitled to the respective proportion of the proceeds of the Offer fo
Purpose
Amount
The total estimated cost of the proposed warehouse facility is, as per the project report dated December 27, 2025
₹6.28 Cr
2025, the company proposes to utilise an amount of up to from the Net Proceeds of the Offer towards funding the
₹5.74 Cr
** the company has allocated a contingency amount of 5% of the project cost i.e. to cover potential expenses arising
₹0.29 Cr
As per the terms of the MOU, the total consideration for the said land has been agreed at, out of which an advance of
₹2.4 Cr
Strengths & Weaknesses
Strengths
✓Omnichannel presence integrating offline and online platforms
✓The Company has an integrated omnichannel presence comprising Company-Owned Company-Operated ("COCO") stores,
✓Franchisee-Owned Franchisee-Operated ("FOFO") stores, and digital sales channels including its proprietary website, mobile
✓Company to distribute its products through multiple sales channels while maintaining uniformity in branding, product assortment
Management & Promoters
O
Other Material AgreementsDirector
D
Dheeraj BansalChairman and Managing Director
S
Shelly BansalWhole-time director
S
Shalini TrehanNon-Executive Director
M
Manoj KumarIndependent Director
S
Sarat Kumar MishraIndependent Director
N
Naveen GuptaIndependent Director
Shareholding Pattern
Pre-IPO
Category
%
Promoters
88.93%
Public
11.07%
Peer Comparison
Company
P/E
EPS
Recode StudiosIPO
—
—
THURSDAY MAY **
7.0x
—
CIN: UPBPLC
—
—
Dated: April
28.0x
—
Pre-IPO Financials
Period
Revenue (Cr)
PAT (Cr)
Net Worth (Cr)
Total Assets (Cr)
2025
₹47.8 Cr
—
₹0.31 Cr
₹23.18 Cr
March 2025
₹36.82 Cr
—
₹20.23 Cr
₹16.73 Cr
March 2024
₹22.38 Cr
—
₹-0.01 Cr
₹12.53 Cr
About
Recode Studio was founded in 2021 and is known as an Indian beauty and personal care brand. They focus on creating great branding, sourcing top-notch products and selling them all across India. Further, they lineup covers makeup, skincare, body care, and beauty tools. They have around 350 products in various categories and prices, like face, eye and lip categories and lip makeup. Plus face and body essentials.
rupiya.io is for research and education only. IPO data is sourced from public disclosures (DRHP/RHP). Not investment advice. Validate with SEBI-regulated disclosures before acting.
