Quick Heal to list shares on stock exchanges

The equity shares will be listed on the NSE as well as on the BSE


The IPO, which closed on 10 February was oversubscribed 11 times at a price band of <span class='WebRupee'>Rs.</span>311-321 per share.
The IPO, which closed on 10 February was oversubscribed 11 times at a price band of Rs.311-321 per share.

Mumbai: Software provider Quick Heal Technologies, which raised Rs.451 crore through its initial public offer (IPO), will list shares on the stock exchanges on Thursday.

The equity shares will be listed on the NSE as well as on the BSE. The IPO, which closed on 10 February was oversubscribed 11 times at a price band of Rs.311-321 per share.

The IPO consisted of fresh issue of Rs.250 crore and an offer for sale 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 portion set aside for qualified institutional buyers (QIBs) was subscribed 4.34 times, while retail investors saw 3.8 times subscription. Meanwhile, non-institutional investors category was subscribed a whopping 36.7 times.

Quick Heal had raised Rs.133.9 crore through issue of shares to 10 anchor investors. ICICI Securities, Jefferies India and JPMorgan India were the book running lead managers while Link Intime India was the registrar to the public issue. While the proceeds from the offer of sale would not go to Quick Heal Technologies, the Rs.250 crore funds raised from 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 for general corporate needs. The company is a provider of software security products and solutions in India.

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