Q&T Foods SME IPO
Q&T Foods IPO — date, price band, GMP & allotment 2026
Q&T Foods Limited is a bakery products maker selling bread, buns, pizza bases, kulcha and pav under its American Bakers brand. It works mainly in Uttar Pradesh and nearby areas through a network of more than 50 dealers, from its ISO 22000 certified Ghaziabad factory.
Stock price
Q&T Foods is listed — here is the live share price.
Researched & reviewed by
Abhishek Vohera,
Founder, IPO Guru
Last updated
Figures sourced from the RHP, BSE & NSE
Timetable
Key dates from opening to listing. Today is 22 September.
- Open 12 Aug 2026
- Close 14 Aug 2026
- Allotment 17 Aug 2026
- Refund/credit 18 Aug 2026
- Listing 19 Aug 2026
Issue summary
The terms of the offer, as filed.
| IPO Dates | 12 to 14 Aug, 2026 |
|---|---|
| Price Band | ₹115 |
| Face Value | ₹10 |
| Lot Size | 1200 Shares |
| Issue Size | ₹26.25 Cr |
| Sale Type | Fresh capital only |
| Listing On | BSE SME |
| Registrar | Skyline Financial Services Private Limited |
| Min Investment | ₹ 2,76,000 |
Share of the offer set aside for each investor category, as stated in the offer document.
What will it cost me?
Bidding is in multiples of 1200 shares at the ₹115 cut-off. The SME retail application is a fixed 2 lots; HNI starts at 3.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 2 | 2,400 | ₹2,76,000 |
| Retail (max) | 2 | 2,400 | ₹2,76,000 |
| HNI (min) | 3 | 3,600 | ₹4,14,000 |
Strengths & risks
Drawn from the offer document — the case for and against, side by side.
Strengths · 8
- 01Sales 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.
- 02Profit after tax grew 90% in the last year, from Rs 2.74 crore to Rs 5.20 crore, and has almost tripled since FY2024.
- 03EBITDA 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.
- 04Bread and buns are daily use items. Demand is regular through the year and does not depend on festivals or seasons.
- 05The company sells under its own brand American Bakers rather than only supplying unbranded product.
- 06The factory holds ISO 22000:2018 and HACCP certification, which matters when supplying to organised retail and food chains.
- 07It has a dealer network of more than 50 dealers already in place.
- 08Rs 6.75 crore of the issue money will repay borrowings, which will bring down interest cost.
Risks · 8
- 01Borrowing 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.
- 02The business is concentrated in Uttar Pradesh and nearby areas, so it depends on one region.
- 03This is a very small company with only 37 employees and a single 10,750 square feet factory in Ghaziabad.
- 04Bread has a very short shelf life of a few days. Unsold stock becomes a direct loss and delivery has to be quick and daily.
- 05Bakery is a low margin business with heavy competition from large national brands as well as local bakeries in every town.
- 06Flour, sugar, yeast and edible oil prices keep changing, and bread prices cannot be raised easily because customers are price sensitive.
- 07This is a fixed price issue at Rs 115 per share, so there is no price discovery through bidding.
- 08This 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.
Three years of numbers
All figures in ₹ crore, as reported in the Q&T Foods offer document.
| Metric | 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 |
See how this IPO compares — view listing performance of all SME IPOs.
Valuation & key ratios
Ratios are for the latest full financial year reported in the Q&T Foods RHP. EPS and P/E are post-issue — the table below carries the pre-issue comparison.
Q&T Foods IPO Valuation
How the issue prices the company before and after the fresh shares are created.
| Valuation Metric | Post-Issue |
|---|---|
| EPS (₹) | ₹7.35 |
| P/E Ratio (x) | 15.65 |
| Market Cap at Offer Price (₹ Cr) | ₹81.36 |
Pre-issue figures use the shareholding reported in the RHP; post-issue figures use the shareholding once the fresh issue has created new shares. The two differ because of that dilution and because post-issue earnings per share are often annualised, so the change can run in either direction. Market capitalisation is calculated at the ₹115 offer price. Compare the post-issue P/E against listed peers before deciding — a premium there is growth you are paying for in advance.
Where the money goes
₹22.59 Cr of the issue is earmarked to named objects.
About the company
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.
Interested in this IPO? Check the live subscription status or browse all upcoming SME IPOs.
+91-9355612523
The bankers & the filings
Who is running the book, and the documents this page is built from.
Lead Manager Track Record
How the book-running lead managers on this issue have priced their past IPOs, measured on listing day.
Corporate Makers Capital Ltd.
9 issues handledBest listing: Kwick Forensic Solutions (+66.7%). Weakest: Fly-Hi Maritime Travels (-20.0%).
Listing gain compares the listing-day opening price with the issue price, using the IPOs on IPO Guru that this lead manager has taken to market. A strong record reflects how the banker has priced past issues — it is not a forecast for this one. See every issue they have handled on the lead managers page.
Company contact
Frequently asked
What is the GMP of Q&T Foods?
The current Grey Market Premium is ₹1, or 0.87% over the issue price.
What is the Q&T Foods IPO price band?
₹115, on a face value of ₹10.
When is the allotment?
The basis of allotment is 17 August 2026, with listing on 19 August 2026.
How do I check allotment status?
On the IPO Guru allotment page or on the registrar's site — Skyline Financial Services Private Limited.
Every number here traces back to a filing.
IPO Guru tracks GMP, subscription and allotment for every SME and Mainboard issue. Every number on this page is sourced from the RHP, BSE & NSE.
Not investment advice. Grey market premium is an unofficial, unregulated indicator and is not a forecast.
