Home
Internet
Internet News
Quick Heal Technologies Fixes Price Band for IPO on Monday

Quick Heal Technologies Fixes Price Band for IPO on Monday

By Press Trust of India | Updated: 3 February 2016 12:06 IST

Software provider Quick Heal Technologies has fixed the price band at Rs. 311-321 for its Rs. 250-crore initial public offer (IPO), which will hit the market on Monday.

The IPO, which would end on February 10, involves a fresh issue of equity shares by the company.

Besides, the issue consists of 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.

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

"Quick Heal Technologies Ltd will hit the capital markets with its IPO on February 8, 2016 with a price band of Rs. 311 to Rs. 321 per equity share of face value of Rs. 10 each," the company said in a statement.

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 general corporate needs.

The company is a provider of security software products and solutions in India. For the fiscal year ended March 31, 2015, it generated a total revenue of Rs. 294 crores. Quick Heal's equity shares are proposed to be listed on the BSE and the NSE.

Comments

For the latest tech news and reviews, follow Gadgets 360 on X, Facebook, WhatsApp, Threads and Google News. For the latest videos on gadgets and tech, subscribe to our YouTube channel. If you want to know everything about top influencers, follow our in-house Who'sThat360 on Instagram and YouTube.