Proceeds from the proposed IPO will be used to strengthen working capital and set up a new warehouse facility

Bengaluru: Homegrown beauty retailer Recode Studios Limited has filed its Draft Red Herring Prospectus (DRHP) with the BSE SME Exchange, marking a key step toward its proposed initial public offering.

According to the company, proceeds from the proposed IPO will be used to strengthen working capital and set up a new warehouse facility. The expansion is expected to improve operational efficiency and support supply chain requirements as the business scales.

Recode Studios also plans to increase spending on advertising and promotional activities to enhance brand visibility, citing digital engagement as a key growth driver in the beauty and personal care segment.

Commenting on the development, Narinder Singh, Chief Financial Officer, Recode Studios, said, "The submission of our DRHP with SEBI is a significant milestone in our journey. This proposed IPO would help us enhance our working capital base and establish a new warehouse facility, which would streamline our operations, improve scalability, and enhance service delivery. This move strengthens our commitment to financial prudence, transparency, and laying a solid foundation to ensure sustainable growth."

The company said the DRHP filing underscores its focus on governance and transparency as it prepares for the next phase of growth.

Recode Studios operates in India’s beauty and personal care market, which continues to see strong demand driven by digital-first brands. The brand gained wider recognition after its appearance on Shark Tank India Season 2.