Recode Studios IPO Live Subscription Status
Real-time subscription data from BSE & NSE with category-wise breakdowns
| Category | Offered | Applied | Times |
|---|---|---|---|
| QIB | 5,35,200 | 7,38,49,600 | 137.99 |
| NII | 5,48,000 | 16,33,36,000 | 298.06 |
| Retail | 9,37,600 | 20,29,96,800 | 216.51 |
| TOTAL | 20,20,800 | 44,01,82,400 | 217.83 |
| Category | Reserved | Applications | Times |
|---|---|---|---|
| NII | 342 | 1,02,085 | 298.49 |
| Retail | 586 | 1,26,873 | 216.51 |
| TOTAL | 928 | 2,28,958 | 246.72 |
| Category | Offered | Demand | Times |
|---|---|---|---|
| QIB | 8.46 | 1,166.82 | 137.99 |
| NII | 8.66 | 2,580.71 | 298.06 |
| Retail | 14.81 | 3,207.35 | 216.51 |
| TOTAL | 31.93 | 6,954.88 | 217.83 |
Recode Studios IPO Subscription — Detailed Analysis
Where Recode Studios Subscription Stands Today
Recode Studios IPO has been subscribed 217.83 times overall — a heavily oversubscribed level that signals strong investor demand and improves the prospects of a positive listing day.
How to Read Recode Studios Category-Wise Subscription
The subscription table above breaks the issue down by investor category. Here's what each section signals:
- QIB (Qualified Institutional Buyers) — mutual funds, banks, insurance companies, FIIs. High QIB subscription means professional investors with deep research teams have committed capital. For Mainboard issues, QIB above 5x is generally seen as a strong signal.
- NII (Non-Institutional Investors) — applications above Rs 2 lakh. Often split into Big NII (above Rs 10 lakh) and Small NII (Rs 2–10 lakh). Big NII activity is mostly funded HNI bets, while Small NII reflects upper-retail sentiment.
- Retail Individual Investors — applications up to Rs 2 lakh. High retail subscription doesn't always predict listing gains, but very low retail interest is a yellow flag worth investigating.
- Employee (if applicable) — reserved category with optional discount. Employee oversubscription is a soft positive signal of insider sentiment.
Subscription Patterns for SME IPOs
SME IPOs typically need 5x+ overall subscription to indicate strong post-listing performance, given their small issue sizes and lower liquidity. Some SME issues see explosive last-day spikes (50x–200x) driven by retail FOMO; while these often produce strong listing gains, they also come with higher post-listing volatility. Look for steady QIB participation as the more reliable signal — pure retail spikes can fade quickly after listing.
Subscription and Allotment Chances
The subscription multiple in each category directly affects allotment probability. For oversubscribed Retail categories, SEBI uses a lottery system — your application has roughly a 1 / subscription times chance of getting at least one lot, with a guaranteed minimum-1-lot allocation rule that helps small investors. NII follows the same draw-of-lots rule at the minimum NII lot; only QIB is allotted proportionately. Use the live subscription numbers above to estimate your chances, or visit our IPO Allotment Chances calculator for a category-wise probability estimate.
For more on how IPO allotment works, see our explainer: IPO Allotment Process Explained.
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