Nitin Konde
3 February, 2016, Mumbai: Quick Heal Technologies, best known for its ‘Anti-Virus’ softwares has decided to launch its 250 crore initial public offer (IPO). The company has put a price cap of Rs 311-321 per share. The launch is expected to hit the market on 8th February, 2016.
As per the plans of the company, it will be releasing fresh equity shares for the IPO which would end on February 10. Apart from that, the latest issue will include 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.
Company has recently released a statement that states, “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.”
According to the officials, company will be utilising 250 crore funds raised from the IPO in its marketing and advertising campaign, sales promotion and capital expenditure for research and development. Apart from that, part of the funds will also be used to purchase, develop and renovate its office premises in Kolkata, Pune and New Delhi, as well as general corporate needs.