Recode Studios’ SME IPO opens today with a reported 25% grey market premium after a Rs 44.6 crore offer priced at Rs 150–158. Founded in 2021, the cosmetics firm sells over 350 products and is pitching an omnichannel play. Funds from the IPO are earmarked for expansion and marketing as competition in the beauty space heats up.
Estee Lauder says it plans layoffs of up to 10,000 jobs worldwide as part of a restructuring aimed at $1.2 billion in annual savings. The total could rise to about 17.5% of its global workforce, with many cuts concentrated in department store roles. The company is also accelerating premium launches and shifting sales toward online and specialty retailers.
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