Q&T Foods IPO
Q&T Foods IPO — dates, price band, GMP & allotment.
Timetable
Issue Summary
| Price Band | ₹115 |
| Face Value | ₹10 |
| Lot Size | 1200 Shares |
| Issue Size | ₹26.25 Cr |
| Sale Type | Fresh capital only |
| Listing On | BSE SME |
| NSE Symbol | QTFOODS.BO |
| BSE Scrip Code | 7883 |
| Min Investment | ₹138,000 |
Reservation
What Will It Cost Me?
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1,200 | ₹138,000 |
| Retail (Max) | 1 | 1,200 | ₹138,000 |
| HNI (Min) | 2 | 2,400 | ₹276,000 |
Strengths & Risks
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.
Valuation & Key Ratios
Financials (Rs. Crore)
| 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 |
About The Company
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.
Company & Registrar
Subscription By Category
| Category | Subscribed | Shares Offered | Shares Bid For |
|---|---|---|---|
| Qualified Institutional Buyers (QIB) | 0× | 0 | — |
| Non-Institutional Investors (NII) | 0.28× | 1,198,800 | — |
| Retail Individual Investors (RII) | 2.64× | 1,083,600 | — |
| Employee | 0× | 0 | — |
| Shareholder | 0× | 0 | — |
| Total | 1.4× | 2,282,400 | — |
GMP History
| Date | GMP | % Over Issue Price |
|---|
Anchor Investors
| Investor | Category | Shares Allotted | Value |
|---|
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