 "Quick Heal extends losses after weak debut")
Shares of Quick Heal Technologies have extended losses hitting an intra-day low of Rs 258, down 20% against its issue price of Rs 321 on the National Stock Exchange (NSE).
The stock of the antivirus software provider raised Rs 451 crore via its initial public offer (IPO) was listed at Rs 305, 5% below the issue price on NSE. It touched intra-day high of Rs 330 post listing.
According to media reports, Manohar Malani, Managing Director of NCS Computech Limited has complained to the Securities and Exchange Board of India (Sebi) that the Quick Heal Technologies did not disclose its entire shareholding details.
On clarification the news report, Quick Heal Technologies said that NCS Computech (NCS) was an erstwhile distributor of the Company’s products, business arrangements with whom were discontinued by the Company in 2014 on account of NCS’s failure to pay its outstanding dues to the Company.
The company would like to clarify that it has not received any amounts towards share application money or for subscription of shares, from any of the Claimants in the year 2000 or at any time thereafter and has never allotted any equity shares of the company to the Claimants at any point in time, it added. CLICK HERE TO READ FULL REPORT.
At 03:04 PM, the stock was trading at Rs 262, 19% below its issue price on the NSE. A combined 23.83 million shares changed hands on the counter on the NSE and BSE so far.
The stock of the antivirus software provider raised Rs 451 crore via its initial public offer (IPO) was listed at Rs 305, 5% below the issue price on NSE. It touched intra-day high of Rs 330 post listing.
According to media reports, Manohar Malani, Managing Director of NCS Computech Limited has complained to the Securities and Exchange Board of India (Sebi) that the Quick Heal Technologies did not disclose its entire shareholding details.
On clarification the news report, Quick Heal Technologies said that NCS Computech (NCS) was an erstwhile distributor of the Company’s products, business arrangements with whom were discontinued by the Company in 2014 on account of NCS’s failure to pay its outstanding dues to the Company.
The company would like to clarify that it has not received any amounts towards share application money or for subscription of shares, from any of the Claimants in the year 2000 or at any time thereafter and has never allotted any equity shares of the company to the Claimants at any point in time, it added. CLICK HERE TO READ FULL REPORT.
At 03:04 PM, the stock was trading at Rs 262, 19% below its issue price on the NSE. A combined 23.83 million shares changed hands on the counter on the NSE and BSE so far.