Q&T Foods IPO

About Q&T Foods IPO

The Q&T Foods IPO, an SME IPO, opens on Wednesday, August 12, 2026 and closes on Friday, August 14, 2026. The allotment of shares will take place on Monday, August 17, 2026. The credit of shares to the demat account will take place on Tuesday, August 18, 2026. The initiation of refunds will take place on Tuesday, August 18, 2026. The listing of shares will take place on Wednesday, August 19, 2026.

The equity shares of the company are proposed to be listed on the BSE SME platform. The offer consists of a fresh issue component. The fresh issue will include 22,82,400 shares aggregating up to ₹26 crore, of which 1,15,200 shares (aggregating up to ₹1 crore) are reserved for the market maker, and the net issue to the public is 21,67,200 shares (aggregating up to ₹25 crore).

Q&T Foods IPO's price is fixed at ₹115 per share. The lot size for an application is 1,200 shares. The minimum amount of investment required by a retail individual investor is ₹2,76,000 (2,400 shares, being 2 lots) (based on the issue price).

The Company manufactures, distributes, markets, and sells savoury bakery products under its 'American Bakers' brand, including breads, buns, pav, kulcha, and pizza bases.

Objectives of Q&T Foods IPO

• To finance the capital expenditure requirements for the purchase of equipment and machinery for the existing manufacturing facility.
  
• To part-finance the working capital requirements of the company.
  
• Repayment or pre-payment, in full or in part, of certain borrowings availed by the Company.
  
• To meet general corporate purposes.
  

Industry Outlook

FMCG is India's fourth-largest sector. It employs around three million people, accounting for roughly 5% of the country's factory employment, while household and personal care products alone contribute 50% of total FMCG sales. Household FMCG spending rose 8% to ₹17,792 crore by April 2025. The momentum has been broad-based across staples and non-staples.

India's FMCG market grew 13.9% in value and 6% in volume in Q1 FY26, led by rural demand and e-commerce. Growth held firm the next quarter. In Q2 FY26 the sector posted value growth of 12.9% and volume growth of 5.4%, supported by a 7.7% rise in rural volumes. The sector is expected to grow 6% to 8% in FY26 as rural demand stays stable and urban markets revive.

Urban India contributes about 62% of total FMCG revenue, but semi-urban and rural regions now account for half of rural FMCG spending. The company operates in the savoury bakery segment of this market. Rising packaged-food consumption in northern India supports demand for its bread and bakery products.

About Q&T Foods

The Company operates in the savoury bakery category. It manufactures milk bread, white bread, multigrain bread, and brown bread, alongside kulcha, pav, burger buns, and pizza bases sold under the 'American Bakers' brand. All products are produced at a single facility of 10,750 sq ft at Deenanathpur, Puti Post Dasna, Ghaziabad, Uttar Pradesh.

The company operated at approximately 84% of installed capacity in FY25. Its principal raw materials are flour, sugar, salt, oils and fats, yeast, and fermenting agents, procured largely from suppliers in Uttar Pradesh and nearby areas. A dealer network of more than 50 dealers distributes the products to retailers. The Company does not operate its own retail stores.

Promoter Mr. Nishant Raj Gupta, aged 39, is the Chairman and Managing Director and leads corporate strategy, product innovation, and marketing. Revenue is concentrated in Uttar Pradesh, which contributed 98.45% of FY25 revenue. The strategic location of the facility near its customers supports timely delivery of perishable products.

Strengths of Q&T Foods

• Experienced Promoters and employees with strong industry knowledge and expertise in the bakery industry.
  
• Extensive and well developed sales and distribution network supported by a strong base of dealers and sales initiatives.
  
• Long-standing relationships with dealers and customers, supporting customer retention and uninterrupted product supplies.
  
• Strong focus on product quality, timely delivery and innovation, supported by a wide range of bakery products across savoury and sweet categories.
  

Risks of Q&T Foods

• The manufacturing facility operates on leased premises, so a failure to renew the lease on acceptable terms could disrupt production and raise costs.
  
• Operations are heavily concentrated in Uttar Pradesh, which accounted for 98.45% of FY25 revenue, exposing the company to any disruption in that single state.
  
• Breads account for the majority of revenue, so any decline in bread demand would directly weaken the company's overall results.
  

Anchor Investor Bidding Date

Anchor investor allocation is not applicable for this SME IPO.

IPO Registrar and Book Running Lead Managers

Registrar Details
Skyline Financial Services Private
Email Id: ipo@skylinerta.com
Phone: 011-40450193-197

Book Running Lead Manager
Corporate Makers Capital

Q&T Foods Contact Details
1/361 SF, Vaishali, Ghaziabad, Uttar Pradesh – 201010
Email: cs@qtfoods.in
Phone: +91-9355612523

Q&T Foods Business Model

The company earns its revenue through the manufacture and sale of savoury bakery products under its 'American Bakers' brand. It sells breads, buns, pav, kulcha, and pizza bases to a network of more than 50 dealers, who resell to retailers at multi-brand outlets.

The company does not operate its own retail stores and instead relies on this dealer-led distribution model. Its in-house, ISO 22000:2018 and HACCP-accredited facility in Ghaziabad, located close to its customer base, supports timely delivery of perishable products and forms the core of its cost and quality differentiation.

Q&T Foods Growth Trajectory

Q&T Foods 's Total Income for FY25 was ₹46.83 crore, whereas in FY24 and FY23 it was ₹40.22 crore and ₹36.85 crore, respectively.

The Profit After Tax for FY25 was ₹2.74 crore, whereas in FY24 and FY23 it was ₹1.96 crore and ₹0.05 crore, respectively.

Their EBITDA for FY25 was ₹4.82 crore, whereas in FY24 and FY23 it was ₹3.77 crore and ₹0.83 crore, respectively.

Q&T Foods Market Position

The company sells its bakery products through a dealer network of more than 50 dealers, primarily across Uttar Pradesh, which contributed 98.45% of FY25 revenue, with a small presence in Haryana. Its single manufacturing facility of 10,750 sq ft carries ISO 22000:2018 and HACCP accreditation and operated at approximately 84% of installed capacity in FY25. The proximity of the facility to its customer base supports timely delivery of perishable products.

As of 31 March 2025, the company's Total Income, Profit After Tax, and EBITDA were ₹46.83 crore, ₹2.74 crore, and ₹4.82 crore, respectively.

How to apply for Q&T Foods IPO?

• Step 1: Log in to your Kotak Neo Demat account to access IPO investments. Next, select the current IPO section.
• Step 2: Specify IPO details. Enter the number of lots and the price you wish to apply for.
• Step 3: Enter UPI ID. After entering your UPI ID, click submit. This will place your bid with the exchange.
• Step 4: Mandate Notification. Your UPI app will receive a mandate notification to block funds.
• Step 5: Approve Request. Your funds will be blocked once you approve the mandate request on your UPI.