Q&T Foods IPO Day 2 Live: Retail jumps 9.1%, Total at 0.90x - Check analysts view and more
Q&T Foods IPO is at 0.90x subscription on Day 2, driven by retail interest which jumped 9.1% to 1.79x. QIB and NII categories remain largely inactive. The company, known for 'American Bakers', reported FY26 revenue of ₹54.78 crore and PAT of ₹5.20 crore. The IPO closes on August 14, 2026.
*this image is generated using AI for illustrative purposes only.
Q&T Foods Limited’s initial public offering concluded on Day 3 with a total subscription of 1.39x. The issue remained fully subscribed, driven almost entirely by retail investors who booked a 2.5x subscription. In contrast, Qualified Institutional Buyers (QIB) and Non-Institutional Investors (NII) showed negligible participation, with subscriptions at 0x and 0.12x respectively. Retail momentum picked up significantly in the final hours, jumping 23.8% from the day-open mark of 2.02x to close at 2.50x. The issue price was fixed at ₹115.00000.
Final Subscription Status
Retail interest accelerated in the final session, pushing the total subscription further above the 1x mark. Here is the day-wise breakdown:
| Day | Date | QIB | NII (bHNI) | NII (sHNI) | Retail | Total |
|---|---|---|---|---|---|---|
| Day 1 | 13-08-2026 | 0.00x | 0.00x | 0.01x | 1.79x | 0.90x |
| Day 2 | 14-08-2026 | 0.00x | 0.00x | 0.12x | 2.50x | 1.39x |
Intra-day timeline on 14-08-2026
| Time (IST) | QIB | NII (bHNI) | Retail | Total |
|---|---|---|---|---|
| 05:45 | 0.00x | 0.00x | 2.02x | 1.06x |
| 06:45 | 0.00x | 0.00x | 2.16x | 1.14x |
| 07:45 | 0.00x | 0.00x | 2.25x | 1.24x |
| 08:45 | 0.00x | 0.00x | 2.36x | 1.31x |
| 09:45 | 0.00x | 0.00x | 2.50x | 1.38x |
| 10:45 | 0.00x | 0.00x | 2.50x | 1.39x |
| 11:45 | 0.00x | 0.00x | 2.50x | 1.39x |
Category-wise Breakdown
- Retail: 2.50x
- NII (bHNI): 0.12x
- NII (sHNI): 0x
- QIB: 0x
- Employees: 0x
About the Company
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'. Founded in 2018, the company operates through an in-house manufacturing facility in Ghaziabad, Uttar Pradesh. Key management includes MD Nishant Raj Gupta and CEO Khushbu Varshney.
Financial Highlights
The company has shown consistent revenue growth over the last three years.
| Particulars | FY 2024 | FY 2025 | FY 2026 |
|---|---|---|---|
| Revenue from operations (₹ crores) | 40.22 | 46.83 | 54.78 |
| Total Profit (₹ crores) | 1.96 | 2.74 | 5.20 |
| Total Equity (₹ crores) | 2.44 | 7.04 | 12.24 |
Revenue scaled from ₹40.22 crores in FY 2024 to ₹54.78 crores in FY 2026. Total profit also increased from ₹1.96 crores to ₹5.20 crores during the same period.
Objects of the Issue
- Capital expenditure requirements for the purchase of Equipment/Machineries for existing manufacturing facility: ₹4.42 crores
- Part finance the requirement of Working Capital: ₹7.50 crores
- Repayment/pre-payment, in full or in part, of certain borrowings availed by the Company: ₹6.75 crores
- General corporate purposes: ₹3.92 crores
Risk Factors
- Outstanding Litigation Proceedings involving Rs. 51.11 lakhs against the company.
- Delays in Payment of Statutory Dues including Employee Provident Fund and Employee State Insurance.
- Manufacturing Facility on Leased Premises which may impact operations if lease agreements are not renewed.
What's Next
Allotment date and listing date are yet to be announced. Investors should check the basis of allotment once declared by the registrar.
Will the lack of institutional interest (QIB/NII) negatively impact Q&T Foods' listing gains and post-listing liquidity?
How might the company's significant delays in statutory dues (EPF/ESI) affect investor confidence and regulatory compliance post-IPO?
Given the high revenue concentration from top customers, what strategies will Q&T Foods employ to diversify its client base after raising capital?
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