How many options are being granted?

Up to 300,000 options are approved by the board, each convertible into one equity share.

What is the conversion ratio?

Each option, once vested and exercised, converts into one equity share with a face value of ₹10.

When will shareholders vote on the plan?

Shareholder approval will be sought at an extraordinary general meeting scheduled for 11 August 2026.

What will be the exercise price?

The exercise price will be set between the face value (₹10) and the market price, subject to SEBI regulations.

Will this ESOP significantly dilute existing shareholders?

No, the dilution from 3 lakh shares is modest relative to Recode's market cap of around ₹192 crore, making it a marginal event.

Household & Personal Products · Micro cap

Recode Studios board approves 3 lakh stock options

The plan, subject to shareholder vote on 11 August, is a modest retention tool for a company with a market cap of ₹192 crore.

— 5 earlier stories on Recode Studios Ltd. →

RECODE By Tipsheet Editorial 15 Jul 2026 · 4:11 PM IST Verify on BSE · NSE

Mkt cap₹210 cr

P/E18.68×

ROE37.64%

Debt / eq.0.86

300,000 options Maximum options under new ESOP plan

What's new

Board approved new ESOP of up to 3 lakh options
Each option converts to one equity share of ₹10 face value
Subject to shareholder approval at EGM on 11 August 2026

Why this matters

For a company with a market cap of around ₹192 crore, the dilution from 3 lakh new shares is marginal. The ESOP is a routine retention measure with no immediate financial impact on existing shareholders.

What we're watching

Exercise price to be set between face value and market price
Shareholder vote at EGM on 11 August
Any future expansions of the plan

The full read

Recode Studios' board has approved an employee stock option plan granting up to 300,000 options, each convertible into one equity share with a face value of ₹10. The plan, compliant with SEBI regulations, requires shareholder approval at an EGM on 11 August 2026. For a company with a market cap of roughly ₹192 crore, adding 300,000 new shares represents minimal dilution. The exercise price will be fixed between face value and market price, a standard practice. This is a routine governance step—a retention tool rather than a market-moving event. It won't shift the investment thesis on its own.

Questions answered

How many options are being granted?: Up to 300,000 options are approved by the board, each convertible into one equity share.
What is the conversion ratio?: Each option, once vested and exercised, converts into one equity share with a face value of ₹10.
When will shareholders vote on the plan?: Shareholder approval will be sought at an extraordinary general meeting scheduled for 11 August 2026.
What will be the exercise price?: The exercise price will be set between the face value (₹10) and the market price, subject to SEBI regulations.
Will this ESOP significantly dilute existing shareholders?: No, the dilution from 3 lakh shares is modest relative to Recode's market cap of around ₹192 crore, making it a marginal event.

Mentioned: Recode Studios · 300,000 options · EGM 11 August 2026

Primary source BSE · NSE · Tijori

An independent reading of the company's own disclosure — the primary filing above is the final word.

Company snapshot

Recode Studios Ltd.

FMCG

₹207 cr

P/E 18.45×

Latest quarter · Mar 2026

Sales₹43 cr

Net profit₹7 cr

Op. margin+24.7%

EPS₹9.02

Strength & growth

Debt / equity0.86×

Current ratio1.75×

Story so far

All notes on RECODE →

15 Jul 2026 · 4:11 PM IST Recode Studios board approves 3 lakh stock options
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14d ago Recode Studios pays ₹8.32 cr for first 33% of Aflairza Professionals
50d ago Recode Studios' earnings call transcript adds no new information
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