Recode Studios
MAINBOARD
Listed
Price Band
₹158
Lot Size
92 Shares
Issue Size
₹611.00 Cr
Fresh Issue
₹458.25 Cr
OFS
₹152.75 Cr
Registrar
AI Sentiment Score
Listing Price
₹213.10
vs Issue: ₹158 (+34.87%)
📅 IPO Timeline
✓
Open
May 5, 2026
✓
Close
May 7, 2026
✓
Allotment
May 9, 2026
✓
Refund
May 10, 2026
✓
Demat
May 10, 2026
✓
Listing
May 12, 2026
📈 Grey Market Premium (GMP) Trendline
Daily consensus GMP movement (₹) recorded across market sources
✨ AI Analysis & Prediction
🔒 Final Reconciled Estimate
Locked post-listing with actual debut performance
Recode Studios displays an established operational footprint with expanding revenue streams (53.8% CAGR) and a defensible value proposition.
💪 Strengths
- Demonstrated operational revenue trajectory with resilient top-line growth (53.8% CAGR).
- Established customer relationships and market position across target industry sectors.
- Sound operational capital returns with Return on Capital Employed (ROCE) at 74.1%.
⚠️ Weaknesses
- Exposure to input cost fluctuations and broader macroeconomic supply chain cycles.
- Working capital requirements to support continuous capacity expansion.
- Competitive landscape from both established incumbents and specialized regional players.
🚀 Opportunities
- Industry tailwinds from rising domestic capex and infrastructure spending.
- Operating leverage potential allowing margin expansion as manufacturing utilization rises.
- Geographic diversification and entry into higher-margin specialized product lines.
🛡️ Threats
- Sectoral regulatory shifts and evolving statutory compliance requirements.
- Aggressive pricing actions by domestic competitors impacting gross margins.
- Broader market equity volatility and liquidity fluctuations.
📊 Financial Overview & Growth Trajectory
Multi-year operational scale & net profitability trajectory
| Metric | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Revenue (₹ Cr) | Rs 22.00 Cr | Rs 37.00 Cr | Rs 48.00 Cr | Rs 80.00 Cr |
| Net Profit / PAT (₹ Cr) | Rs 1.00 Cr | Rs 0.00 Cr | Rs 3.00 Cr | Rs 11.00 Cr |
| EBITDA / Op. Profit (₹ Cr) | Rs 1.00 Cr | Rs 2.00 Cr | Rs 6.00 Cr | Rs 17.00 Cr |
| Borrowings (₹ Cr) | Rs 4.00 Cr | Rs 8.00 Cr | Rs 8.00 Cr | Rs 6.00 Cr |
| Total Assets (₹ Cr) | Rs 13.00 Cr | Rs 17.00 Cr | Rs 23.00 Cr | Rs 35.00 Cr |
| ROE % | 0.00% | 0.00% | 0.00% | 0.00% |
| ROCE % | 74.10% | 74.10% | 74.10% | 74.10% |
| Debt / Equity | 0.00 | 0.00 | 0.00 | 0.00 |
Company P/E
41.0x
Industry P/E
47.1x
Debt/Equity
0.30
⚖️ Valuation Benchmark Range
🟢 Attractively Priced vs Industry Peers
Industry 47.1x
IPO 41.0x
0x (Deep Value)
64x (High Multiple)
📋 Live Subscription Status
QIB
0.00x
NII
0.00x
Retail
0.00x
Total
0.00x
🎯 Retail Allotment Probability
100% Odds
100% (Guaranteed 1 lot for all valid applications)
SEBI Rule: Under SEBI lottery allotment rules, applying for multiple lots under Retail does NOT increase your lottery odds. All valid retail applicants have identical 1-lot odds per PAN.
💼 Issue Structure & Reservation Quota
Capital Structure
₹611.0 Cr
Issue Size
Fresh (75%)
OFS (25%)
Reservation Quota
100%
Allocation
QIB (50%)
NII (15%)
Retail (35%)
QIB
50.00%
Retail
35.00%
NII
15.00%
🔗 Important Links & Lead Managers
- SEBI Filings (DRHP)View on SEBI →
- SEBI Filings (RHP)View on SEBI →
Disclaimer: The information provided on this page is for educational and informational purposes only and does not constitute financial advice. IPO investments are subject to market risks. AI-generated analysis is based on publicly available data and may not be accurate. Grey Market Premium (GMP) is unofficial and highly speculative. Always consult a qualified financial advisor and read the DRHP/RHP carefully before making investment decisions.