Q&T Foods IPO GMP today is Rs 6. Investors can use this GMP along with price band and subscription status for a better IPO review.
Listed
SME IPO
Q&TFOODS
Q&T Foods IPO GMP, Subscription & Allotment Status Today
Q&T Foods Limited is primarily engaged in the business of manufacturing, distributing, marketing, and selling a variety of bakery products under its brand, ‘American Bakers’. The company’s offerings are targeted mainly at local consumers in the state of Uttar Pradesh. Its diversified product portfolio includes a range of breads such as Milk, White, Multigrain, and Brown Bread, alongside other bakery items like Kulcha, Pav, Burger Buns, and Pizza Bases. All products are manufactured at its in-house facility in Ghaziabad, Uttar Pradesh, which is accredited with ISO 22000:2018 and HACCP certifications for quality management. The company generates revenue by selling its products to a network of over 50 dealers, who then resell them to retail end-consumers through various multi-brand outlets and stores. Q&T Foods does not operate its own retail stores.
- Price Band
- ₹115.00 - ₹115.00
- Lot Size
- 1,200 Shares
- Bidding Closes
- 14 Aug 2026
- Listing Date
- 19 Aug 2026
Current GMP Status
₹6
+5.22% vs upper band
Est. Listing Gain
+0.00%
Last Trend
13 Aug 2026
Listing Price
₹115.00
Retail Entry
₹2,76,000
IPO Details
Complete IPO information
| Current GMP | ₹6 |
|---|---|
| Estimated Listing Gain | +0.00% |
| Price Band | ₹115.00 - ₹115.00 |
| Issue Price | Approx ₹115.00 Crores |
| Listing Price | ₹115.00 |
| Lot Size | 1,200 Shares |
| Issue Type | SME |
| Registrar | TBA |
| Exchange | BSE SME |
| Retail Quota | TBA |
| Overall Subscription | 1.42x |
| Listing Date | 19 Aug 2026 |
| Minimum Investment | ₹2,76,000 |
Demand Tracker
Subscription Status
| Category | Shares Reserved | Shares Applied | Subscription (x) |
|---|---|---|---|
| NII | 10.84 | 2.18 | 0.20x |
| Retail | 10.84 | 28.66 | 2.64x |
| Overall Subscription | 21.67 | 30.84 | 1.42x |
Analysis
IPO Snapshot & Investor Takeaways
At the upper end of its price band, Q&T Foods is priced at ₹115 per share. With a minimum lot size of 1,200 shares, a retail investor applying for one lot would need approximately ₹2,76,000 to participate in this SME issue.
The latest recorded Grey Market Premium for Q&T Foods stands at ₹6, implying an estimated listing gain of around 5.22% over the issue price if it holds until listing. This is down ₹11 from its previously recorded level. GMP reflects informal grey-market sentiment rather than a guaranteed outcome, and can change at any point until the day of listing.
As of the latest update, Q&T Foods's IPO was subscribed 1.42x overall, with a category-wise breakdown of Retail 2.64x, NII 0.2x.
Among the strengths highlighted in Q&T Foods's IPO documents: Experienced Promoters with a proven track record in the bakery industry, driving corporate strategy and business expansion.; In-house, quality-certified manufacturing facility in Ghaziabad accredited with ISO 22000:2018 and HACCP standards..
Investors should also weigh the risk factors Q&T Foods has disclosed, including: Pending legal proceedings involving the company and its promoters could adversely affect its reputation and financials..
SME IPOs list on the dedicated SME platform of BSE/NSE. They usually involve smaller issue sizes and a higher per-lot investment than Mainboard issues, with comparatively lower institutional participation.
Timeline
IPO roadmap at a glance
✓
Bidding Opens
12 Aug 2026
✓
Bidding Closes
14 Aug 2026
✓
Allotment
17 Aug 2026
✓
Listing
19 Aug 2026
Grey Market Premium
Daily GMP status
| Date | GMP | Change | Gain |
|---|---|---|---|
| 13 Aug 2026 | ₹10.00 | -₹11.00 | 8.70% |
| 12 Aug 2026 | ₹21.00 | - | 18.26% |
Swipe to see more →
Market Lot
Application size breakdown
| Category | Lots | Shares | Amount |
|---|---|---|---|
| Retail Minimum | 2 Lot | 2,400 | ₹2,76,000 |
| Retail Maximum | 2 Lot | 2,400 | ₹2,76,000 |
| S-HNI Minimum | 3 Lot | 3,600 | ₹4,14,000 |
| S-HNI Maximum | 7 Lot | 8,400 | ₹9,66,000 |
| B-HNI Minimum | 8 Lot | 9,600 | ₹11,04,000 |
Swipe to see more →
Fund Utilization
Objects of the Issue & Official Documents
Issue Notes
Important takeaways before applying
Strengths
- Experienced Promoters with a proven track record in the bakery industry, driving corporate strategy and business expansion.
- In-house, quality-certified manufacturing facility in Ghaziabad accredited with ISO 22000:2018 and HACCP standards.
- Well-developed distribution network supported by sales training and incentive programs for dealers.
- Long-standing relationships with a network of over 50 dealers ensure uninterrupted supply.
- Focus on strict quality control and timely delivery across raw material procurement and finished product distribution.
Risks
- Pending legal proceedings involving the company and its promoters could adversely affect its reputation and financials.
- Manufacturing operations are on leased premises, exposing the company to risk if agreements are not renewed.
- High revenue dependence on the top 10 customers, contributing around 25% of total revenue in Fiscal 2026.
- Geographic concentration of revenue and manufacturing operations in the state of Uttar Pradesh.
- Heavy revenue reliance on the bread segment, which accounted for over 99% of revenue in recent fiscal years.
Analysis
Q&T Foods IPO Details
The Q&T Foods IPO is a Fixed Price Issue with a total issue size of approximately ₹26.25 crores. The public offering is entirely a fresh issue of shares, meaning the proceeds from the issue are intended to go to the company rather than existing shareholders through an Offer for Sale.
The IPO opens for subscription on August 12, 2026 and closes on August 14, 2026. Q&T Foods has fixed the issue price at ₹115 per equity share, with a face value of ₹10 per share. The company's shares are proposed to be listed on the BSE SME platform.
| Particular | Details |
|---|---|
| IPO Open Date | August 12, 2026 |
| IPO Close Date | August 14, 2026 |
| Face Value | ₹10 Per Equity Share |
| IPO Price | ₹115 Per Share |
| Issue Size | Approx ₹26.25 Crores |
| Fresh Issue | Approx ₹26.25 Crores |
| Issue Type | Fixed Price Issue |
| IPO Listing | BSE SME |
Note: Q&T Foods operates in the bakery products business, including breads, buns, pizza bases and other bakery products. Investors should consider the company's financial performance, IPO valuation, business growth, industry competition and associated risks before making an investment decision.
Analysis
Q&T Foods IPO Reservation
The Q&T Foods IPO has a category-wise reservation for Non-Institutional Investors (NIIs) and Retail Individual Investors (RIIs). As a fixed-price SME issue, the available shares are divided equally between these two investor categories based on the provided reservation structure.
A total of 10,83,600 equity shares, representing 50% of the offered shares, are reserved for Non-Institutional Investors. An equal allocation of 10,83,600 shares, representing the remaining 50%, is reserved for Retail Individual Investors.
| Investor Category | Shares Offered | Reservation (%) |
|---|---|---|
| Anchor Investor | – Shares | -% |
| Non-Institutional Investors (NII) | 10,83,600 Shares | 50% |
| Retail Individual Investors (RII) | 10,83,600 Shares | 50% |
Note: The above table presents the category-wise Q&T Foods IPO reservation details. The final allotment will depend on the subscription received in each investor category and the basis of allotment finalized after the issue closes.
Analysis
Q&T Foods IPO Dates
The Q&T Foods IPO opens for subscription on August 12, 2026 and closes on August 14, 2026. After completion of the subscription period, the company is expected to finalize the basis of allotment on August 17, 2026.
Refunds for unsuccessful applicants are scheduled to be initiated on August 18, 2026. Successful investors are expected to receive the allotted shares in their demat accounts on the same date. Q&T Foods shares are proposed to be listed on the BSE SME platform on August 19, 2026.
| IPO Event | Date |
|---|---|
| IPO Open Date | August 12, 2026 |
| IPO Close Date | August 14, 2026 |
| Basis of Allotment | August 17, 2026 |
| Refunds | August 18, 2026 |
| Credit to Demat Account | August 18, 2026 |
| IPO Listing Date | August 19, 2026 |
Note: The above dates represent the proposed Q&T Foods IPO schedule. The timeline may be revised by the company, registrar, or stock exchange if required.
Analysis
Q&T Foods IPO Promoters and Holding Pattern
The promoters of Q&T Foods are Nishant Raj Gupta, Khushbu Varshney, Usha Gupta and Rakesh Gupta. Prior to the IPO, the promoter and promoter group collectively hold 91.28% of the company's equity share capital, while other shareholders account for the remaining 8.72%.
Following completion of the IPO, the promoter and promoter group's holding is expected to reduce to 61.85%, while the shareholding of other investors is expected to increase to 38.15%. The company's total number of equity shares is expected to increase from 47,96,000 shares before the IPO to 70,78,400 shares after the issue.
Promoters of Q&T Foods
- Nishant Raj Gupta
- Khushbu Varshney
- Usha Gupta
- Rakesh Gupta
| Particular | Pre IPO Shares | Pre IPO % Shares | Post IPO Shares | Post IPO % Shares |
|---|---|---|---|---|
| Promoter and Promoter Group | – | 91.28% | – | 61.85% |
| Others* | – | 8.72% | – | 38.15% |
| Total | 47,96,000 | 100% | 70,78,400 | 100% |
Note: The above table presents the pre-IPO and proposed post-IPO holding pattern of Q&T Foods. The promoter group's ownership is expected to decrease from 91.28% before the IPO to 61.85% after completion of the issue.
Analysis
Q&T Foods IPO Objects of the Issue & Utilisation of Proceeds
Q&T Foods proposes to utilise the proceeds from the fresh issue primarily for capital expenditure, working capital requirements and repayment or pre-payment of certain existing borrowings. These investments are intended to support the company's manufacturing operations and ongoing business requirements.
The company plans to allocate approximately ₹4.42 crores towards the purchase of equipment and machinery for its existing manufacturing facility. Another ₹7.50 crores is proposed to be used for working capital requirements, while approximately ₹6.75 crores will be utilised towards repayment or pre-payment of certain borrowings.
| Purpose | Amount |
|---|---|
| To finance the capital expenditure requirements for the purchase of equipment/machineries for the existing manufacturing facility | ₹4.42 Crores |
| To part finance the working capital requirements of the company | ₹7.50 Crores |
| Repayment/pre-payment, in full or in part, of certain borrowings availed by the company | ₹6.75 Crores |
| To meet general corporate purposes | ₹- |
Note: The above amounts represent the proposed utilisation of the Q&T Foods IPO proceeds. The actual deployment may vary depending on capital expenditure requirements, working capital needs, repayment obligations and other business requirements.
Analysis
Q&T Foods About Ipo
Q&T Foods Limited, founded in August 2018, has been involved in the production, distribution, marketing, and manufacturing of bakery products. The firm sells breads, buns, pizza bases, kulchas, pav, and other bakery products under the brand “American Bakers”.
Its product portfolio consists of a wide range of bakery products such as Milk Bread, White Bread, Brown Bread, Multigrain Bread, Burger Buns, Pav, Kulcha, and Pizza Bases, which are distributed through 50+ dealers serving several customers and retail stores.
Its manufacturing facility is located at Ghaziabad, Uttar Pradesh, spread across 10,750 sq. ft. with an installed capacity of 9,472 TPA. The firm buys ingredients like flour, sugar, yeast, oil, and other ingredients from suppliers in different parts of Uttar Pradesh with strict quality control.
Analysis
Q&T Foods IPO Company Financial Report
Q&T Foods has recorded consistent growth in its financial performance from FY2024 to FY2026. The company's revenue increased from ₹40.22 crores in FY2024 to ₹46.83 crores in FY2025 and further reached ₹54.78 crores in FY2026, reflecting steady expansion in its business operations.
Profitability improved at a faster pace during the same period. Profit After Tax (PAT) increased from ₹1.96 crores in FY2024 to ₹2.74 crores in FY2025 and then nearly doubled to ₹5.20 crores in FY2026. Total assets also expanded from ₹14.34 crores to ₹26.57 crores over the three-year period.
| Period Ended | Revenue | Expense | PAT | Assets |
|---|---|---|---|---|
| 2024 | ₹40.22 Cr. | ₹37.57 Cr. | ₹1.96 Cr. | ₹14.34 Cr. |
| 2025 | ₹46.83 Cr. | ₹43.14 Cr. | ₹2.74 Cr. | ₹19.68 Cr. |
| 2026 | ₹54.78 Cr. | ₹47.83 Cr. | ₹5.20 Cr. | ₹26.57 Cr. |
Amount in ₹ Crores: The above table summarizes Q&T Foods' revenue, expenses, Profit After Tax (PAT), and total assets from FY2024 to FY2026. Investors should evaluate these financial trends along with profitability margins, IPO valuation, debt position, business growth and industry conditions.
Analysis
Q&T Foods IPO Valuation – FY2026
The Q&T Foods IPO valuation can be assessed using key financial indicators such as Earnings Per Share (EPS), Price-to-Earnings (P/E) Ratio, Return on Equity (ROE), Return on Capital Employed (ROCE), Return on Net Worth (RoNW), margins and Net Asset Value (NAV). These ratios provide investors with a clearer view of the company's profitability, capital efficiency and IPO pricing.
For FY2026, Q&T Foods reported a ROE of 53.95% and ROCE of 70.88%. The company's EBITDA margin stood at 15.27%, while its PAT margin was 9.49%. Q&T Foods reported basic EPS of ₹10.84, while the IPO valuation indicates a P/E ratio of 10.62. Its debt-to-equity ratio stood at 0.90.
| KPI | Values |
|---|---|
| ROE | 53.95% |
| ROCE | 70.88% |
| EBITDA Margin | 15.27% |
| PAT Margin | 9.49% |
| Debt to Equity Ratio | 0.90 |
| Earning Per Share (EPS) | ₹10.84 (Basic) |
| Price / Earnings (P/E) Ratio | 10.62 |
| Return on Net Worth (RoNW) | 42.49% |
| Net Asset Value (NAV) | ₹25.52 |
Note: The above valuation metrics are based on FY2026 financial information. Investors should assess these ratios together with the ₹115 IPO price, historical financial performance, debt position, peer-group valuations, business prospects and risks before making an investment decision.
Analysis
Q&T Foods IPO Peer Group Comparison
The Q&T Foods IPO peer group comparison provides investors with a benchmark for evaluating the company's financial and valuation metrics against a listed company operating in the food products industry. Key indicators such as Earnings Per Share (EPS), Price-to-Earnings (P/E) Ratio, Return on Net Worth (RoNW), Net Asset Value (NAV), and income can be considered while assessing relative valuation.
As per the provided peer comparison, Mrs. Bectors Food Specialities Limited has an EPS of ₹3.87, a P/E ratio of 54.37, RoNW of 10.11%, and NAV of ₹38.29. Its reported income stands at approximately ₹1,899.37 crores.
| Company | EPS | P/E Ratio | RoNW (%) | NAV (₹) | Income |
|---|---|---|---|---|---|
| Mrs. Bectors Food Specialities Limited | ₹3.87 | 54.37 | 10.11% | ₹38.29 | ₹1,899.37 Cr. |
Note: Peer-group comparison should be used only as one part of the IPO evaluation process. Differences in company size, product portfolio, operating margins, growth rates, market position and capital structure can result in significant differences in valuation multiples.
Analysis
IPO Lead Managers aka Merchant Bankers
- Corporate Makers Capital Ltd.
FAQ
Q&T Foods IPO FAQs
Q&T Foods IPO price band is Rs 115.00 to Rs 115.00. Check the latest issue price, lot size and GMP together before applying.
Q&T Foods IPO open date is 12 Aug 2026, close date is 14 Aug 2026, and listing date is 19 Aug 2026.
Q&T Foods IPO lot size is 1,200 shares. The minimum retail investment is Rs 2,76,000.
Q&T Foods is classified as a SME IPO. This helps investors quickly understand the issue category and exchange segment.
Q&T Foods IPO subscription status currently shows Retail 2.64x, NII 0.2x, Overall 1.42x.
Q&T Foods Limited is primarily engaged in the business of manufacturing, distributing, marketing, and selling a variety of bakery products under its brand, ‘American Bakers’. The company’s offerings are targeted mainly at local consumers in the state of Uttar Pradesh. Its diversified product portfolio includes a range of breads such as Milk, White, Multigrain, and Brown Bread, alongside other bakery items like Kulcha, Pav, Burger Buns, and Pizza Bases. All products are manufactured at its in-house facility in Ghaziabad, Uttar Pradesh, which is accredited with ISO 22000:2018 and HACCP certifications for quality management. The company generates revenue by selling its products to a network of over 50 dealers, who then resell them to retail end-consumers through various multi-brand outlets and stores. Q&T Foods does not operate its own retail stores.
Q&T Foods IPO issue size is 26.25 and the expected allotment date is 17 Aug 2026.
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