Q&T Foods IPO
- Issue price
- ₹115
- Listing price
- ₹115
- 0.00%
- Current price
- ₹34
- -70.43%
- Subscribed
- 1.4x
- Issue size
- ₹26.25 Cr
- Listed on
- 19 Aug 2026
IPO timeline
- Opens12 AugWed
- Closes14 AugFri
- Allotment17 AugMon
- Refunds18 AugTue
- Demat credit18 AugTue
- Listing19 AugWed
Issue details
- Price band
- ₹115 per share
- Issue size
- ₹26.25 Cr
- Fresh issue
- ₹26.25 Cr · 0.23 Cr shares
- Offer for sale
- None
- Issue type
- Fresh capital only
- Face value
- ₹10 per share
- Lot size
- 1,200 shares
- Minimum investment
- ₹1,38,000
- Listing on
- BSE SME
- Exchange code
- QTFOODS.BO · 7883
Lot size and investment
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1,200 | ₹1,38,000 |
| Retail (Max) | 1 | 1,200 | ₹1,38,000 |
| HNI (Min) | 2 | 2,400 | ₹2,76,000 |
Reservation
- NII
- 10,83,600 shares (50.00% of the Offer)
- Retail
- 10,83,600 shares (50.00% of the Offer)
Allotment status
The allotment for this IPO is final. Check whether you received shares on the registrar's website using your PAN, application number or demat account (DP / Client ID).
Check allotment on Skyline Financial Services- 1Open the registrar's allotment page and select this IPO from the list.
- 2Enter your PAN, application number or DP / Client ID.
- 3Submit to see the number of shares allotted, if any.
- Basis of allotment
- 17 Aug 2026
- Refunds initiated
- 18 Aug 2026
- Shares credited to demat
- 18 Aug 2026
- Listing
- 19 Aug 2026
Grey market premium (GMP)
- Current GMP
- ₹1
- +0.87%
- Estimated listing price
- ₹116
- Issue price ₹115
- Highest
- ₹15
- 10 Aug
- Lowest
- ₹1
- 14 Aug
GMP by day (₹ per share)
Day-wise GMP table
| Date | GMP | Premium | Est. listing |
|---|---|---|---|
| 19 Aug 2026 | ₹1 | +0.87% | ₹116 |
| 18 Aug 2026 | ₹1 | +0.87% | ₹116 |
| 17 Aug 2026 | ₹1 | +0.87% | ₹116 |
| 16 Aug 2026 | ₹1 | +0.87% | ₹116 |
| 15 Aug 2026 | ₹1 | +0.87% | ₹116 |
| 14 Aug 2026 | ₹1 | +0.87% | ₹116 |
| 13 Aug 2026 | ₹3 | +2.61% | ₹118 |
| 12 Aug 2026 | ₹10 | +8.70% | ₹125 |
| 11 Aug 2026 | ₹15 | +13.04% | ₹130 |
| 10 Aug 2026 | ₹15 | +13.04% | ₹130 |
| 9 Aug 2026 | ₹6 | +5.22% | ₹121 |
| 8 Aug 2026 | ₹6 | +5.22% | ₹121 |
GMP is an unofficial indicator from an unregulated market. It is shown for information only and is not a prediction of the listing price or a recommendation to apply.
Subscription status
- NII (HNI)0.28x
- Retail2.64x
| Category | Shares offered | Shares bid for | Subscribed |
|---|---|---|---|
| Non-Institutional Investors (NII) | 11,98,800 | 3,33,600 | 0.28x |
| Retail Individual Investors (RII) | 10,83,600 | 28,65,600 | 2.64x |
| Total | 22,82,400 | 31,99,200 | 1.4x |
Financials
- P/E (pre-issue)
- 10.61
- P/E (post-issue)
- 15.66
- EPS (₹)
- 7.35
- RoCE
- 60.69%
- RoNW
- 38.86%
- PAT Margin
- 5.84%
Pre-issue P/E uses the shares outstanding before the IPO; post-issue P/E includes the new shares. Calculated by Be IPO Ready at the issue price on profit for the FY ended 31 Mar 2026.
| Period ended | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|
| Assets | 26.57 | 19.68 | 14.34 |
| Total Income | 54.78 | 46.83 | 40.22 |
| Profit After Tax | 5.20 | 2.74 | 1.96 |
| EBITDA | 8.37 | 4.82 | 3.77 |
| NET Worth | 12.24 | 7.04 | 2.44 |
| Reserves and Surplus | 7.44 | 2.24 | 2.34 |
| Total Borrowing | 11.05 | 10.11 | 9.84 |
Peer comparison
| Company | Issue size | P/E | RoNW | PAT margin | Subscribed | Listing gain |
|---|---|---|---|---|---|---|
| Q&T Foods This IPO | ₹26.25 Cr | 15.65 | 38.86% | 5.84% | 1.4x | 0.00% |
| Dhanwel Hybrid Seeds SME · listed 26 Aug 2026 | ₹26.73 Cr | 14.74 | 31.11% | 8.20% | 1.62x | 0.00% |
| M R Maniveni Foods Ltd. SME · listed 1 Jun 2026 | ₹27.04 Cr | 22.87 | 27.61% | 2.03% | 1.69x | -18.17% |
| Elfin Agro India SME · listed 12 Mar 2026 | ₹25.03 Cr | 17.2 | 36.86% | 3.48% | 1.41x | +0.64% |
| Quanto Agroworld SME · listed 22 Sep 2026 | ₹31.02 Cr | 13.99 | 24.68% | 20.78% | 1.37x | -0.01% |
| Crazy Snacks SME · listed 3 Jul 2026 | ₹31.47 Cr | 12.57 | 17.20% | — | 1.2x | +4.76% |
| Farm Peace SME · listed 8 Sep 2026 | ₹32 Cr | 16.12 | 17.32% | 8.41% | 1.15x | +90.00% |
Peers are other recent IPOs from the same industry, closest in issue size. Ratios are as disclosed at the time of each issue. This is not the listed-peer table from the offer document.
About Q&T Foods
Q&T Foods Limited was started in August 2018. The company makes bakery products such as bread, buns, pizza bases, kulcha and pav, and sells them under its brand American Bakers. Its product range includes milk bread, white bread, brown bread, multigrain bread, burger buns, pav, kulcha and pizza bases. The company works mainly in Uttar Pradesh and the areas around it, and sells through a network of more than 50 dealers to local shops and retail outlets. All products are made at the company's own factory in Ghaziabad, Uttar Pradesh, spread over 10,750 square feet with a capacity of 9,472 tonnes per year. The factory holds ISO 22000:2018 and HACCP certification for food safety. Raw materials such as flour, sugar, yeast and oils are bought from suppliers within Uttar Pradesh. As on 30 June 2026 the company had 37 people working in production, sales, quality control and administration.
Strengths
- Sales have grown steadily for three years, from Rs 40.22 crore in FY2024 to Rs 46.83 crore in FY2025 and Rs 54.78 crore in FY2026.
- Profit after tax grew 90% in the last year, from Rs 2.74 crore to Rs 5.20 crore, and has almost tripled since FY2024.
- EBITDA improved from Rs 3.77 crore in FY2024 to Rs 8.37 crore in FY2026, so the margin is getting better as the company grows.
- Bread and buns are daily use items. Demand is regular through the year and does not depend on festivals or seasons.
- The company sells under its own brand American Bakers rather than only supplying unbranded product.
- The factory holds ISO 22000:2018 and HACCP certification, which matters when supplying to organised retail and food chains.
- It has a dealer network of more than 50 dealers already in place.
- Rs 6.75 crore of the issue money will repay borrowings, which will bring down interest cost.
Risks
- Borrowing is high compared to own funds. Total borrowing was Rs 11.05 crore as on 31 March 2026 against a net worth of only Rs 12.24 crore.
- The business is concentrated in Uttar Pradesh and nearby areas, so it depends on one region.
- This is a very small company with only 37 employees and a single 10,750 square feet factory in Ghaziabad.
- Bread has a very short shelf life of a few days. Unsold stock becomes a direct loss and delivery has to be quick and daily.
- Bakery is a low margin business with heavy competition from large national brands as well as local bakeries in every town.
- Flour, sugar, yeast and edible oil prices keep changing, and bread prices cannot be raised easily because customers are price sensitive.
- This is a fixed price issue at Rs 115 per share, so there is no price discovery through bidding.
- This is an SME issue. One lot is 1,200 shares, which is Rs 1.38 lakh at the issue price, and SME shares usually trade in low volume after listing.
Objects of the issue
- To finance the Capital expenditure requirements for the purchase of Equipment/Machineries for existing manufacturing facility₹4.42 Cr
- To part finance the requirement of Working Capital₹7.5 Cr
- Repayment/pre-payment, in full or in part, of certain borrowings availed by the Company₹6.75 Cr
- To meet General corporate purposes₹3.92 Cr
Promoters and shareholding
Nishant Raj Gupta, Khushbu Varshney, Usha Gupta and Rakesh Gupta
- Promoter holding, pre-issue
- 91.28%
- Promoter holding, post-issue
- 61.85%
Registrar, lead managers and documents
Lead manager
Documents
Q&T Foods IPO: common questions
When does the Q&T Foods IPO open and close?
The Q&T Foods IPO opens on 12 Aug 2026 and closes on 14 Aug 2026.
What is the price band of the Q&T Foods IPO?
The price band is ₹115 per share, with a lot size of 1,200 shares and a minimum investment of ₹1,38,000.
What is the size of the Q&T Foods IPO?
The issue size is ₹26.25 Cr (Fresh capital only).
What is the GMP of the Q&T Foods IPO?
The last reported grey market premium is ₹1 per share as of 19 Aug 2026, 08:24 AM IST. GMP is unofficial and changes frequently.
When is the Q&T Foods IPO allotment?
The basis of allotment is expected on 17 Aug 2026. Allotment status can be checked with the registrar, Skyline Financial Services Private Limited.
When will the Q&T Foods IPO list?
The shares listed on 19 Aug 2026 on BSE SME.
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