Summary
Q&T Foods IPO is a ₹26 crore fixed-price SME issue priced at ₹115 per share. The subscription window runs from 12 August to 14 August 2026, with listing scheduled for 19 August 2026.
Q&T Foods sells bakery products under the American Bakers brand, supported by in-house manufacturing. The company has recorded growth in revenue and profit, alongside improving margins.
The ₹15 GMP reflects positive early market sentiment. Given the risks associated with SME stocks, the offering may suit investors with a higher risk appetite.
Q&T Foods is launching a ₹26 crore fixed-price IPO on the BSE SME platform. The issue consists entirely of 22,82,400 fresh shares.
The IPO will open for subscription on 12 August 2026 and close on 14 August 2026. The company is expected to finalise the allotment on 17 August, followed by a tentative listing on 19 August 2026. The issue price has been set at ₹115 per share, with each lot consisting of 1,200 shares.
Retail investors need to apply for at least two lots, or 2,400 shares, requiring an investment of ₹2,76,000. For HNI investors, the minimum application is three lots, equivalent to 3,600 shares and an investment of ₹4,14,000.
Q&T Foods IPO Key Details
The table below provides an overview of the key details of the Q&T Foods IPO.
| Bidding Opens | 12 August 2026 |
| Bidding Closes | 14 August 2026 |
| Face Value | ₹10 per share |
| Issue Type | Fixed Price IPO |
| Price Band | Not applicable, fixed-price issue |
| Issue Price | ₹115 per share |
| Listing On | BSE SME |
| Lot Size | 1,200 Shares |
| Offer for Sale (OFS) | |
| Reserved for Market Maker | 1,15,200 shares (₹1 crore) |
| Fresh Issue (excluding Market Maker) | 21,67,200 shares (₹25 crore) |
| Total Issue | 22,82,400 shares (₹26 crore) |
| Minimum Investment | ₹2,76,000 |
Q&T Foods IPO Timeline
The Q&T Foods IPO will follow the schedule outlined below:
| Bidding Opens | 12 August 2026 |
| Bidding Closes | 14 August 2026 |
| Allotment Planned For | 17 August 2026 |
| Refunds Start On | 18 August 2026 |
| Share Credit to Demat | 18 August 2026 |
| Listing Scheduled | 19 August 2026 |
| Cut-off for UPI mandate | 5:00 PM on 14 August 2026 |
Q&T Foods Key Performance Indicators (KPIs)
Q&T Foods’ KPIs are presented in the following table:
| KPIs | FY 2026 | FY 2025 | FY 2024 |
| ROE (%) | 53.95 | 57.71 | 134.07 |
| ROCE (%) | 70.88 | 60.69 | 85.45 |
| Debt-Equity (times) | |||
| RoNW (%) | 42.49 | 38.86 | 80.26 |
| PAT Margin (%) | 9.49 | 5.84 | 4.87 |
| EBITDA Margin (%) | 15.27 | 10.29 | 9.37 |
| Price Book Value | 4.51 |
Q&T Foods Financials
Given below are the company’s major financial metrics:
| Period | FY 2026 | FY 2025 | FY 2024 |
| Total Assets | 2,657.49 | 1,968.13 | 1,434.37 |
| Revenue | 5,477.63 | 4,683.07 | 4,021.95 |
| Profit After Tax | 520.03 | 273.55 | 196.00 |
(Amount in ₹ lakh)
Q&T Foods IPO Subscription Status
As the Q&T Foods IPO is yet to open, subscription figures are currently unavailable.
The bidding data will be updated once the issue opens for investors.
The bids can be placed between 10:00 AM and 5:00 PM on each subscription day.
Q&T Foods IPO Grey Market Premium
The Q&T Foods IPO is currently commanding a grey market premium (GMP) of ₹15 per share, up from ₹6 on 9 August 2026. Based on the issue price of ₹115, this points to an estimated listing price of around ₹130 per share, translating into a potential listing gain of about 13.04%. At the current GMP, the estimated profit is approximately ₹18,000.
| Date | GMP | Est. Debut Price (Cap Price + GMP) | Est. Listing Profit | Last Updated |
| 10-08-2026 | ₹15 | ₹130 (13.04%) | ₹18,000 | 10 Aug 2026 12:00 |
| 09-08-2026 | ₹6 | ₹121 (5.22%) | ₹7,200 | 9 Aug 2026 23:34 |
| 08-08-2026 | ₹6 | ₹121 (5.22%) | ₹7,200 | 8 Aug 2026 23:34 |
Note: GMP indicates sentiment in the unofficial market and should not be viewed as a guarantee of listing returns.
Q&T Foods IPO Reservation
Here is a breakdown of the IPO share reservation by investor category:
| Investor Category | Reservation |
| NIIs | 10,83,600 |
| QIB | |
| Retail Investors | 10,83,600 |
| Market Maker | 1,15,200 |
| Total Shares | 22,82,400 |
Q&T Foods IPO Lot Size
IPO applications can be placed according to the lot sizes specified below:
| Application Type | Lots | Shares | Amount |
| Individual Investor – Minimum | 2 | 2,400 | ₹2,76,000 |
| Individual Investor – Maximum | 2 | 2,400 | ₹2,76,000 |
| HNI Minimum | 3 | 3,600 | ₹4,14,000 |
Q&T Foods IPO Anchor Investors
Q&T Foods IPO does not have an anchor investor portion. As a result, details such as anchor allocation, bidding date, shares allotted to anchor investors, investment amount and lock-in periods do not apply to this issue.
Q&T Foods IPO Prospectus
Refer to the links below to explore the Q&T Foods IPO in more detail:
About Q&T Foods
Incorporation: 29 August 2018
Managing Director: Nishant Raj Gupta
Q&T Foods manufactures, markets and sells bakery products under its ‘American Bakers’ brand, with a primary presence in Uttar Pradesh. Its product range includes milk, white, multigrain and brown breads, along with buns, pav, kulcha, burger buns and pizza bases.
The company operates an in-house manufacturing facility in Ghaziabad with an installed capacity of 9,472 TPA. It sells products through a network of over 50 dealers who cater to retailers and multi-brand outlets. Over time, it has widened its product range and market reach to serve more consumers.
| Issue Registrar | Skyline Financial Services Pvt. Ltd. |
| Lead Manager | Corporate Makers Capital Ltd. |
Q&T Foods IPO Objectives
The company intends to deploy the IPO proceeds towards the following objectives:
| Particulars | Amount (in ₹ lakh) |
| Capex for the purchase of equipment and machinery | 442.21 |
| Working capital requirements | 750.00 |
| Repayment/prepayment of borrowings | 675.00 |
| General corporate purposes | 391.94 |
Strengths of Q&T Foods
- Experienced Leadership: The promoters bring bakery industry experience and play an active role in business decisions, strategy execution and identifying new growth opportunities.
- Controlled Production: In-house manufacturing gives Q&T Foods greater control over production processes, helping it maintain product specifications and manage operations efficiently.
- Established Dealer Network: Q&T Foods combines a broad distribution network with long-standing dealer relationships, supported by training, sales incentives and dependable product supply.
- Focus on Quality and Timely Delivery: Q&T Foods emphasises product standards and timely deliveries, helping it respond to changing customer preferences in the bakery market.
Risks of Q&T Foods
- Geographic Concentration: Uttar Pradesh generated 99.25% of FY26 revenue, leaving the business highly exposed to economic, competitive or operational disruptions within the state.
- Raw Material Risk: Volatile raw material prices and dependence on suppliers without long-term agreements could increase costs, disrupt production and pressure operating margins.
- Leased Manufacturing Facility: The manufacturing facility operates from leased premises, creating a risk of disruption or relocation costs if the lease is not renewed.
- Rising Inventory Levels: Inventory increased to ₹536.95 lakh in FY26, raising working capital needs and the risk of losses from inaccurate demand forecasting.
Q&T Foods IPO Review
Q&T Foods has recorded steady growth in revenue and profits, supported by improving margins and strong return ratios. Its in-house manufacturing and established dealer network add to its operating strengths. However, the concentration of sales in Uttar Pradesh, rising inventory levels and fluctuations in raw material prices remain key risks.
The rising GMP shows positive early interest in the IPO. Investors should still look at the company’s valuation and financial performance before applying. The IPO may be better suited to those comfortable with the higher risks of SME issues.
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Q&T Foods IPO FAQs
Q&T Foods IPO is a ₹26 crore fixed-price SME issue consisting entirely of fresh shares. The shares will be listed on the BSE SME platform.
Investors can apply through their broker or bank using the ASBA facility. Applications must follow the prescribed lot size and investment requirements.
Q&T Foods has shown revenue and profit growth, improving margins and strong return ratios. However, investors should consider its operational challenges, valuation and SME-related risks before applying.
Based on the latest GMP of ₹15, Q&T Foods shares may list around ₹130, indicating an estimated listing gain of 13.04%. However, GMP is unofficial and actual listing returns may vary.
The Q&T Foods IPO will open for subscription on 12 August 2026 and close on 14 August 2026.
The lot size is 1,200 shares. Individual investors must apply for at least 2,400 shares, requiring an investment of ₹2,76,000.
The allotment for the Q&T Foods IPO is expected on 17 August 2026.
Q&T Foods is scheduled to list on the BSE SME platform on 19 August 2026.
