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Quick Heal Technologies to enter markets on Monday with Rs 451 crore IPO

Quick Heal has already raised Rs 133.9 crore from 10 anchor investors, including BNP Paribas Advantage and Reliance Mutual Fund.

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Software provider Quick Heal Technologies will hit the capital markets on Monday to raise Rs 451 crore through an initial public offering (IPO).

The IPO consists of fresh issue of Rs 250 crore and an offer for sale (OFS) of about 62.70 lakh equity shares by promoters Kailash Sahebrao Katkar and Sanjay Sahebrao Katkar, as well as Sequoia Capital India Investment Holdings III. The company has fixed the price band at Rs 311-321 for its initial public offer (IPO), which will close on February 10.

Quick Heal has already raised Rs 133.9 crore from 10 anchor investors, including BNP Paribas Advantage and Reliance Mutual Fund.

The company has allotted 41.70 lakh equity shares at Rs 321 a piece, the upper end of the price band, to 10 anchor investors.

ICICI Securities, Jefferies India and JPMorgan India are the books running lead managers while Link Intime India is the registrar to the public issue.

While the proceeds from the offer for sale (OFS) would not go to Quick Heal Technologies, the Rs 250 crore funds raised from the fresh issue of equity shares would be used by the company for advertising and sales promotion and capital expenditure for research and development. The proceeds would also be invested to purchase, develop and renovate its office premises in Kolkata, Pune and New Delhi, as well as general corporate needs.

Quick Heal is a provider of security software products and solutions in India. The equity shares are proposed to be listed on BSE and NSE.  

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