Allots 41.7 lakh shares to 10 anchor investors
Security software products and solutions provider Quick Heal Technologies has raised Rs 133.87 crore from anchor investors ahead of the opening of the company's initial public offer (IPO). The company will allot a total of 41.7 lakh shares to 10 anchor investors at Rs 321 per share, the top end of the Rs 311-321 per share price band for the IPO.
Among the anchor investors, Driehaus Emerging Markets Smallcap Growth Fund will be allotted 4.62 lakh shares, Nomura India Stock Mother Fund will be allotted 3.11 lakh shares, BNP Paribas Arbitrage will be allotted 6.23 lakh shares and Reliance Life Insurance Company will be allotted 2.33 lakh shares. Among other anchor investors, Sundaram Smile Fund and Axis Equity Fund will be allotted 3.11 lakh shares each, ICICI Prudential Mutual Fund gets 6.23 lakh shares, Reliance Small Cap Fund 4.62 lakh shares, Birla Sun Life Insurance Company 4.1 lakh shares and Jupiter India Fund 4.2 lakh shares.
The company's IPO opens for bidding on Monday, 8 February 2016, and concludes on Wednesday, 10 February 2016. The IPO is a combination of fresh issue of shares aggregating Rs 250 crore and offer for sale by promoters Kailash Katkar and Sanjay Katkar and venture capital investor Sequoia Capital. Promoters Kailash Katkar and Sanjay Katkar have put on the block of 18.40 lakh shares each and Sequoia Capital is selling 25.89 lakh shares via the IPO.
Quick Heal Technologies is one of the leading providers of security software products and solutions in India, with a market share of over 30% in the retail segment. The company's end customers include home users, small offices and home offices (SOHO), small and medium-sized business (SMBs), enterprises, educational institutions, as well as government agencies and departments. The company intends to utilize Rs 110 crore from the proceeds of the IPO towards advertisement and sales promotion, Rs 41.90 crore on capital expenditure on research and Development, Rs 27.60 crore for purchase, development and renovation of office premises in Kolkata, Pune and New Delhi and balance for general corporate purpose.
Based on consolidated financials, Quick Heal Technologies reported net profit of Rs 24.22 crore on revenue from operations of Rs 148.18 crore for six months ended 30 September 2015. Net profit stood at Rs 53.80 crore on revenue from operations of Rs 286.11 crore for the year ended 31 March 2015.
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