Q&T Foods IPO
Grey Market Premium (GMP)
GMP applies before listing only. This IPO has listed — see Listing Performance below for the actual debut.
Subscription Status
| Category | Subscription |
|---|---|
| NII | 0.2x |
| Retail (RII) | 2.64x |
| Total | 1.42x |
Bidding day 3 · final figures at close of bidding: 19 Aug 2026, 6:30 pm IST
IPO Details
- Open Date
- 12 Aug 2026
- Close Date
- 14 Aug 2026
- Listing Date
- 19 Aug 2026
- Face Value
- ₹10
- Fresh Issue
- ₹24.91 Cr
- OFS
- ₹0 Cr
- Listing On
- BSE
- Registrar
- Skyline Financial Services
Lot Size & Application Amounts
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 2 | 2,400 | ₹2,76,000 |
| HNI (Min) | 3 | 3,600 | ₹4,14,000 |
Issue Reservation
| Investor category | Shares offered | % of issue |
|---|---|---|
| NII | 10,83,600 | 50% |
| Retail | 10,83,600 | 50% |
| Total | 21,67,200 | 100% |
The anchor portion is carved out of the QIB quota. Percentages are of the total shares offered.
Financials (₹ Cr)
| Period Ended | Revenue | PAT | EBITDA | Net Worth | Total Assets | Borrowings | EPS (₹) |
|---|---|---|---|---|---|---|---|
| FY 2024 | 40.22 | 1.96 | 3.77 | 2.44 | 14.34 | 9.84 | — |
| FY 2025 | 46.83 | 2.74 | 4.82 | 7.04 | 19.68 | 10.11 | — |
| FY 2026 | 54.78 | 5.2 | 8.37 | 12.24 | 26.57 | 11.05 | 10.84 |
Restated figures from the offer document. Amounts in ₹ crore; EPS in ₹ per share. FY = the 12 months ended 31 March.
KPIs & Valuation
- P/E (pre-issue)
- 10.61x
- P/E (post-issue)
- 15.65x
- RoNW
- 42.49%
- RoE
- 53.95%
- RoCE
- 70.88%
- EPS (pre-issue)
- ₹10.84
- EPS (post-issue)
- ₹7.35
- EBITDA Margin
- 15.27%
- PAT Margin
- 9.49%
- P/BV
- 4.51x
- NAV / share
- ₹25.52
- Market Cap
- ₹81.4 Cr
As of 31 Mar 2026 (latest reported period in the offer document). Market cap is computed on a post-issue basis at the upper price band.
Objects of the Issue
| Purpose | Est. Amount |
|---|---|
| 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 |
Net-proceeds utilisation as disclosed in the offer document.
Issue Expenses
| Purpose | Est. Amount |
|---|---|
| Lead Manger Fees | ₹0.75 Cr |
| Underwriting Commission | ₹1.31 Cr |
| Advertising Expenses | ₹0.04 Cr |
| Fees Payable to Registrar to the Issue | ₹0.01 Cr |
| Fees Payable to Legal Advisors | ₹0.02 Cr |
| Printing and distribution of Issue stationary | ₹0.01 Cr |
| Commission/processing fee for SCSBs, Sponsor Banks and Banker to the Issue | ₹0.02 Cr |
| Brokerage, commission and selling commission, Registered Brokers, RTAs and DPs | ₹0.03 Cr |
| Expenses and fees payable for marketing, promotion & distribution, Market Making etc. | ₹1.37 Cr |
| Printing and distribution of issue stationery | ₹0.01 Cr |
| Listing Fees | ₹0.01 Cr |
| BSE Processing Fee | ₹0.03 Cr |
| BSE software Fee | ₹0.04 Cr |
| Depository Fee | ₹0.02 Cr |
Promoters & Shareholding
Promoters: <p>Nishant Raj Gupta, Khushbu Varshney, Usha Gupta, Rakesh Gupta</p>
- Holding (pre-issue)
- 91.28%
- Holding (post-issue)
- 61.86%
- Dilution
- 29.42%
Documents
Peer Comparison
| Company | EPS (₹) | NAV (₹) | P/E | RoNW | P/BV | Statements |
|---|---|---|---|---|---|---|
| Q&T Foods | 10.83 | 25.51 | 10.62x | 42.49% | 4.6x | Restated |
| Mrs.Bectors Foods Specialties Ltd. | 3.87 | 38.29 | 54.37x | 10.11% | 5.53x | Standalone |
Peer group as disclosed in the offer document, figures as of 31 Mar 2026. The issuer’s P/E is computed at the upper price band.
Lead Managers (BRLMs)
Tap a lead manager to see every IPO it has run and how those listings fared.
Listing Performance
About the Q&T Foods IPO
The Q&T Foods SME IPO runs from 12 Aug 2026 to 14 Aug 2026, offered at an issue price of ₹115 per share, and is set to list on BSE. The company is looking to raise ₹26.25 crore through the offer. Retail investors bid in lots of 1200 shares, a minimum application of ₹2,76,000.
Issue structure
The IPO is structured entirely as a fresh issue of ₹24.91 crore, so the full proceeds flow to the company to fund its stated objects of the issue.
Objects of the issue
Per the offer document, the company intends to deploy the net proceeds primarily toward to part finance the requirement of working capital (₹7.5 crore), alongside repayment/pre-payment, in full or in part, of certain borrowings availed by the company (₹6.75 crore). In all, 4 objects are disclosed — the full break-up is in the table above.
Financials
In FY2026, Q&T Foods reported revenue of ₹54.78 crore and a net profit of ₹5.2 crore. Revenue grew from ₹40.22 crore in FY2024 to ₹54.78 crore in FY2026 (+36.0%). Net worth stood at ₹12.24 crore at the end of FY2026. At the upper band, that puts the issue at roughly 10.6× FY2026 earnings (P/E), a figure worth comparing against listed peers in the sector.
Valuation
At the upper band, the issue is priced at 15.65× post-issue earnings and 4.51× book value, against a return on net worth of 42.49%. These ratios come from the offer document and are for comparison, not a recommendation.
Promoters
The promoters of the company are <p>Nishant Raj Gupta, Khushbu Varshney, Usha Gupta, Rakesh Gupta</p>. Promoter holding stands at 91.28% before the issue and comes down to 61.86% after listing.
Grey market premium (GMP)
In the unofficial grey market, Q&T Foods shares are quoted at a premium of ₹1 implying an expected listing around ₹116, about +0.9% over the upper band. Grey market premium is a sentiment indicator set by private dealers, not the company or the exchange — it moves quickly and is not a reliable predictor of the actual listing price.
Subscription
The Q&T Foods IPO was subscribed 1.42 times overall. The strongest demand came from retail investors at 2.64 times, with non-institutional investors (NII) at 0.2×.
Listing performance
Q&T Foods listed on 19 Aug 2026 at ₹115, a premium of +0.0% over the issue price of ₹115.
What to weigh
When evaluating the Q&T Foods IPO, the data points most investors look at are the fresh-issue-versus-OFS split, the revenue and profitability trend, subscription demand across investor categories and the grey market premium. Grey market premium and subscription figures reflect short-term sentiment rather than long-term fundamentals; the figures on this page are for information only and are not investment advice.
About Q&T Foods
Incorporated in August 2018, Q&T Foods Limited is a regional bakery products manufacturer operating under its flagship “American Bakers” brand. The company offers a diversified range of everyday bakery products, including Milk Bread, White Bread, Brown Bread, Multigrain Bread, Burger Buns, Pav, Kulcha, and Pizza Bases. It primarily serves Uttar Pradesh and adjoining markets through a distribution network of 50+ dealers . The company operates an ISO 22000:2018 and HACCP-certified manufacturing facility in Ghaziabad, Uttar Pradesh, with an installed capacity of 9,472 TPA . With 37 employees as of May 31, 2026, Q&T Foods is supported by an experienced promoter and an integrated manufacturing setup. The company has demonstrated steady growth, with revenue from operations increasing from ₹36.85 crore in FY23 to ₹46.83 crore in FY25 , supported by its established brand, expanding distribution network, and operational efficiencies.
Q&T Foods — Contact Details
- Registered office
- 1/361 SF, Vaishali, Ghaziabad, Uttar Pradesh, 201010
- Phone
- +91-9355612523
- cs@qtfoods.in
- Website
- www.qtfoods.in/
- Registrar (IPO queries)
- ipo@skylinerta.com
Frequently asked questions
- What is the Q&T Foods IPO price band?
- The Q&T Foods IPO price band is ₹115 per share, with a lot size of 1200 shares.
- What was the Q&T Foods IPO GMP before listing?
- The final grey market premium recorded before the Q&T Foods IPO listed was ₹1. The IPO listed on 19 Aug 2026 at ₹115, +0.0% against the issue price. GMP is an unofficial figure and was never a guarantee of the listing price.
- 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.
- When is the Q&T Foods IPO allotment and listing date?
- Allotment is expected on 17 Aug 2026. The shares are scheduled to list on 19 Aug 2026 on BSE.
- How many times was the Q&T Foods IPO subscribed?
- The Q&T Foods IPO was subscribed 1.42 times in total across all investor categories.
- What is the reservation split in the Q&T Foods IPO?
- Of the total shares offered, retail investors get 50%, non-institutional investors 50%. The full category-wise break-up is in the Issue Reservation table on this page.
- Who are the promoters of Q&T Foods and what is their holding?
- The promoters are <p>Nishant Raj Gupta, Khushbu Varshney, Usha Gupta, Rakesh Gupta</p>. Promoter holding is 91.28% before the issue and 61.86% after listing.
- What is the P/E ratio of the Q&T Foods IPO?
- At the upper price band, the Q&T Foods IPO is valued at 10.61× pre-issue earnings and 15.65× post-issue earnings, based on the financials disclosed in the offer document.
- What are the objects of the Q&T Foods IPO?
- The net proceeds go primarily toward to part finance the requirement of working capital, among 4 disclosed objects. See the Objects of the Issue table for the full break-up.
- Who are the lead managers and registrar of the Q&T Foods IPO?
- The book-running lead manager is Corporate Makers Capital Ltd.. Skyline Financial Services is the registrar to the issue.
- Is Q&T Foods a Mainboard or SME IPO?
- Q&T Foods is an SME IPO, listing on BSE (SME platform).