Bakery premixes are composed of a blend of ingredients that offer convenient and quick baking solutions. In the present study, four blends were prepared by taking buckwheat, chickpea, plantain flour, and rice flour in the ratio of (40:20:10:30) T1, (40:20:20:20) T2, (40:20:30:10) T3, and (40:20:40:0) T4. Cake premixes were formulated by adding sugar, baking powder, baking soda, corn starch, and glycerol monostearate in the ratio of 60:5:2.5:1:2 in all the four blends. Blends were analyzed for physicochemical, functional, thermal, bioactive, and antioxidant properties, and premixes were evaluated for cake baking quality. The T3 premix was selected based on evaluated parameters, and the prepared cake contained about 5.02% protein, 27.70% fat, and 1.22% fiber. Textural attributes of cake from the premix were comparable to nongluten cakes available in the market. The cake premix T3 remained acceptable in terms of quality with progression of the storage period of 120 days in aluminum laminates under ambient conditions. During storage, the moisture content decreased from 9.52% to 6.72%, the free fatty acid increase was up to 0.117%, and the peroxide value increased up to 0.48 meq O2/kg. The developed gluten‐free premix will provide nutritional, economic, and better texture attributes to the target segment of consumers.