All IPOs 
Q&T Foods
SME · BSE listed
0.00%
Listing gain
Price Band
₹115
Issue Size
₹26.25 Cr
1 lot at upper band
₹1,38,000
Lot Size
1,200
Open
12 Aug 2026
Close
14 Aug 2026
Allotment
—
Listing
19 Aug 2026
Scheduled dates
- Open12 Aug 2026
- Close14 Aug 2026
- Refund18 Aug 2026
- Demat credit18 Aug 2026
- Listing19 Aug 2026
Listing Performance
Listing Price
₹115
Listing Gain
0.00%
Day Close
—
Current (LTP)
— (—)
GMP Trend*
Daily grey market premium (₹). Unofficial.
Latest GMP: ₹1 12 sessions
Subscription (times)
Latest per-category subscription · as of 14 Aug, 05:11 pm IST.
NII 0.20x
BHNI 0.12x
RII 2.64x
Total 1.42x
About Q&T Foods
Q&T Foods Limited is primarily engaged in manufacturing, distribution, marketing and selling of bakery products in savoury category including breads, buns, pizza bases, and Kulcha under the brand 'American Bakers' targeted at local consumers. The company operates through an in-house manufacturing facility with ISO 22000:2018 and HACCP certifications, situated at 10,750 sq. feet in Ghaziabad, Uttar Pradesh with 9,472 TPA installed capacity. The company offers diversified product portfolio including Milk Bread, White Bread, Multigrain Bread, Brown Bread, Kulcha, Pav, Burger Bun, and Pizza Base primarily in Uttar Pradesh. The company has developed a dealer network of more than 50 dealers and has shown consistent growth with operational revenue scaling from Rs. 4,021.53 lakhs in FY 2023-24 to Rs. 5,477.63 lakhs in FY 2025-26.
www.qtfoods.in ↗Strengths
- Leveraging the experience of Promoter and employeesThe company's promoters have proven background and experience in the bakery industry, providing key competitive advantage and enabling business expansion while exploring new growth avenues.
- In-house manufacturing facility supported by technology driven processThe company operates a 10,750 sq. feet manufacturing facility with 9,472 TPA installed capacity, accredited with ISO 22000:2018 and HACCP certifications for quality management systems.
- Extensive and well-developed sales and distribution networkThe company has developed a dealer network of more than 50 dealers with periodic training programmes and sales incentives to encourage greater sales and increase brand visibility.
- Long-standing relationship with dealersThe company has developed long-standing relationships with dealers without long-term agreements, ensuring uninterrupted supplies and retaining dealers on a pan India basis through strong relationships and product quality.
- Focus on Quality and Timely DeliveryThe company maintains ISO 22000:2018 certification and HACCP standards, focusing on manufacturing wide variety of bakery products while ensuring quality assurance and timely delivery to sustain business model.
Risk Factors
- Outstanding Litigation ProceedingsThe company faces pending litigation involving Rs. 51.11 lakhs against the company and Rs. 36.01 lakhs against promoters. Any adverse outcome may impact the company's reputation, business, financial condition, results of operations and cash flows.
- Delays in Payment of Statutory DuesThe company has experienced significant delays in payment of statutory dues including Employee Provident Fund (delays up to 2,435 days) and Employee State Insurance (delays up to 915 days). Such delays may attract financial penalties from government authorities, adversely impacting financial condition and cash flows.
- Manufacturing Facility on Leased PremisesThe company's manufacturing facility operates on leased premises with rent of Rs. 45,000 per month. If the company is unable to renew lease agreements or relocate on commercially suitable terms, it may have a material adverse effect on business operations and financial condition.
- Revenue Concentration on Few CustomersThe company's top 10 customers contributed 25.01%, 24.85% and 31.56% of revenue from operations for fiscal years 2026, 2025 and 2024 respectively. Loss of key customers or reduction in business volumes could materially adversely affect results of operations and financial condition.
- Increasing Inventory LevelsThe company's inventory increased from Rs. 250.07 lakhs (March 2024) to Rs. 536.95 lakhs (March 2026). The company's inability to accurately forecast demand and manage inventory may adversely affect business, cash flows, and results of operations due to working capital requirements and spoilage risks.
- Trademark Opposition ProceedingsThe company's trademark application for "AMERICAN BAKERS" has been opposed by a third party under Sections 9, 11 and 18 of the Trade Marks Act, 1999. Any adverse outcome may require additional costs for rebranding, affecting brand recognition and business operations.
Objects of the Issue
- Capital expenditure requirements for the purchase of Equipment/Machineries for existing manufacturing facilityThe company proposes to utilize funds towards the purchase and installation of additional bakery processing machinery and equipment at its existing manufacturing facility to strengthen manufacturing capabilities and support future business growth.4.42 crores
- Part finance the requirement of Working CapitalThe company intends to utilize funds for investment in trade receivables, inventories and payment to trade payables to support expansion of business operations by increasing manufacturing capacities and operations.7.50 crores
- Repayment/pre-payment, in full or in part, of certain borrowings availed by the CompanyThe company proposes to utilize funds to repay certain borrowings to help reduce outstanding indebtedness, debt servicing costs and maintain a favourable debt-to-equity ratio.6.75 crores
- General corporate purposesThe company intends to deploy funds towards strategic initiatives, brand building activities, strengthening infrastructure and systems, repayment of loans, provision for contingencies and ongoing corporate purposes as approved by the Board.3.92 crores
Financial Snapshot
Annual values as reported in the offer document.
| Year end | Revenue | Rev. growth | Profit | Profit growth | Assets | Equity | Operating cash flow |
|---|---|---|---|---|---|---|---|
| 31/03/2026 | 54.78 | +17.0% | 5.20 | +89.8% | 26.57 | 12.24 | 3.99 |
| 31/03/2025 | 46.83 | +16.4% | 2.74 | +39.8% | 19.68 | 7.04 | 1.89 |
| 31/03/2024 | 40.22 | — | 1.96 | — | 14.34 | 2.44 | -0.17 |
Units: crores
Issue Details
- Face Value
- ₹10
- P/E
- 15.70
- ROCE
- 46.00%
- Shares / Lot
- 1,200
- Minimum Bid
- 2,400 shares
- Refund
- 18 Aug 2026
- Credit to Demat
- 18 Aug 2026
- ISIN
- INE13G401012
- CIN
- U55101UP2018PLC107257
- Registrar
- Skyline Financial Services Pvt.Ltd.
- Lead Managers
- Corporate Makers Capital Ltd.
- Registered Office
- 1/361 SF, Vaishali, Ghaziabad, Uttar Pradesh – 201010
Management
Nishant Raj GuptaMD
Khushbu VarshneyCEO
Usha GuptaDirector
* Grey Market Premium is unofficial, indicative data from unregulated grey-market dealers. It is not published by NSE, BSE, SEBI or the issuer, and is not a forecast of the listing price.