Recode Studios Limited (BSE ticker: 544755) is being listed on BSE on May 12, 2026, and will be added to the BSE SME IPO Index effective at the open of Tuesday, May 13, 2026. This follows Notice No. 20260511-16 and is part of the standard index inclusion process for newly listed SME IPO stocks.

Key Points

• Recode Studios Limited (ticker: 544755) listed on BSE effective May 12, 2026
• Stock added to BSE SME IPO Index effective at open of May 13, 2026
• The corporate action is included in the end-of-day corporate action file (*.SDE) dated May 12, 2026
• Queries should be directed to bseindex@bseindia.com

Regulatory Changes

No regulatory changes. This is a routine index reconstitution notice reflecting the addition of a newly listed SME IPO stock to the BSE SME IPO Index.

Compliance Requirements

No direct compliance requirements for listed companies or investors. Index-tracking funds and products referencing the BSE SME IPO Index should update their portfolios to reflect the addition of Recode Studios Limited (544755) effective at the open of May 13, 2026.

Important Dates

• May 12, 2026: Recode Studios Limited listed on BSE; corporate action file published
• May 13, 2026 (market open): Effective date for addition of 544755 to BSE SME IPO Index

Impact Assessment

The addition of Recode Studios Limited to the BSE SME IPO Index is a routine post-listing index event. Impact is primarily relevant to passive investment vehicles and structured products tracking the BSE SME IPO Index, which may need to rebalance to include the new constituent. Broader market impact is limited given the SME segment scope.

BSE has announced that equity shares of Recode Studios Limited (SME IPO, Scrip Code: 544755) will be transferred from the Trade for Trade segment (MT Group) to the Rolling segment (M Group) effective Tuesday, May 26, 2026. This notice continues from BSE Notice No. 20260511-46 dated May 11, 2026.

Key Points

• Equity shares of Recode Studios Limited (Scrip Code: 544755) will move from Trade for Trade (MT Group) to Rolling segment (M Group)
• Effective date of transfer: Tuesday, May 26, 2026
• This is an SME IPO-listed company
• Notice is a continuation of BSE Notice No. 20260511-46 dated May 11, 2026
• Contact person: Mr. Anurag Jain, Tel. No. 022-2272 8822

Regulatory Changes

The equity shares will shift from the Trade for Trade (TFT) settlement mechanism under the MT Group to the normal Rolling settlement under the M Group. In the Rolling segment, trades are settled on a T+1 or T+2 basis with netting allowed, unlike the TFT segment where each trade must be settled individually.

Compliance Requirements

• Trading Members must take note of the segment change effective May 26, 2026
• Systems and order management processes should be updated to reflect the new group classification (M Group) for Scrip Code 544755
• Members with pending strategies or orders in MT Group should review positions ahead of the transition date

Important Dates

• May 11, 2026: Initial notice issued (BSE Notice No. 20260511-46)
• May 12, 2026: Current follow-up notice issued
• May 26, 2026: Effective date of transfer from MT Group to M Group

Impact Assessment

The transfer from Trade for Trade to Rolling segment typically signals improved liquidity and maturity for an SME-listed stock post-IPO lock-in period. For traders and investors, this means:

• Intraday trading and netting of positions will become permissible
• Settlement risk profile changes from gross to net settlement
• Potentially increased trading volumes and tighter bid-ask spreads as more trading strategies become available
• Existing holders are unaffected in terms of ownership; only the trading mechanism changes

Recode Studios Limited (Scrip Code: 544755, ISIN: INE2B6701015) will be listed on the BSE SME segment under the ‘MT’ Group effective Tuesday, May 12, 2026. In accordance with SEBI circular CIR/MRD/DP/02/2012 dated January 20, 2012, the scrip will trade in the Trade-for-Trade segment for the first 10 trading days. The IPO issue price was Rs. 158 per share (face value Rs. 10 + premium Rs. 148), with allotment completed on May 8, 2026.

Key Points

• Listing effective: Tuesday, May 12, 2026 on BSE SME segment, ‘MT’ Group
• Total securities: 10,644,344 equity shares of Rs. 10/- each, fully paid up
• Distinctive number range: 1 to 10,644,344
• Scrip ID on BOLT: RECODE | Scrip Code: 544755 | ISIN: INE2B6701015
• Issue price: Rs. 158/- per share (face value Rs. 10/-, premium Rs. 148/-)
• Market lot: 800 equity shares; trading only in dematerialised form
• Trade-for-Trade segment applies for first 10 trading days post-listing
• Special Pre-open Session (SPOS) scheduled for May 12, 2026
• Market Maker: Asnani Stock Broker Private Limited (SEBI Reg: INZ000190431)
• Registrar: Mudra RTA Ventures Private Limited (SEBI Reg: INR000004413)

Regulatory Changes

No new regulatory changes introduced. The listing follows existing SEBI guidelines including the February 16, 2000 dematerialisation mandate, the January 20, 2012 Trade-for-Trade circular, and the February 16, 2012 Special Pre-open Session framework for IPOs and relisted scrips.

Compliance Requirements

• Trading members must trade this scrip exclusively in dematerialised form.
• All trades must be in minimum market lot of 800 equity shares or multiples thereof.
• Trading members must participate in the Special Pre-open Session (SPOS) on May 12, 2026 per the Exchange notice 20120216-29.
• Lock-in restrictions as detailed in Annexure I must be observed; corporate action for demat lock-in has been executed in the depository’s records.
• Shareholding pattern disclosures are as per Annexure II attached to the original notice.

Important Dates

• May 8, 2026: Date of allotment in the public issue
• May 11, 2026: Notice date
• May 12, 2026: Listing date and commencement of trading; Special Pre-open Session (SPOS)
• 10 trading days from May 12, 2026: Trade-for-Trade segment restriction period
• Financial Year End: March 31

Impact Assessment

This is a routine SME IPO listing on BSE. The Trade-for-Trade restriction for the first 10 trading days limits speculative intraday trading, requiring delivery-based settlement for each trade. The minimum market lot of 800 shares at an issue price of Rs. 158 implies a minimum trade value of approximately Rs. 1,26,400, consistent with SME segment norms. The SPOS mechanism on listing day provides price discovery for retail and institutional participants. Impact is contained to SME segment traders, allottees, and the market maker (Asnani Stock Broker Private Limited) who is obligated to provide liquidity.