Quick Heal IPO to hit mkt on Feb 8; price band at Rs 311-321

Software provider Quick Heal Technologies Limitedwill hit capital markets with its IPO on February 8 at aprice band of Rs 311-321 per equity share of face valueof Rs 10 each.
The IPO consists of a fresh issue of Rs 250 crore by the company and an offer for sale of up to 6,269,558 equityshares by promoters Kailash Sahebrao Katkar and himself, apart from Sequoia Capital India Investment Holdings III and Sequoia Capital India Investments III, the company's Managing Director Sanjay Sahebrao Katkar told reporters.
The money would be utilised for promotionof brand and marketing of products. "As much as Rs 11 crore will be spent on doing it," he said.

Another Rs 40 crore will be spent on lab capacitybuilding and Rs 27 crore for office facilities which arelocated in Pune and some other cities, he added.
Rest of the money will be spent for general purposes, Katkar said, adding, "we plan to utilise the public money in next threeyears."
Responding to a query on finances of the company, he said it has grown by 18 per cent last year.

Asked about this year's target, he said, "We shall maintain the growth rate and expect to do better."
ICICI Securities Limited, Jefferies India PrivateLimited, and JP Morgan India Private Limited are the BookRunning Lead Managers, while Link Intime India Private Limited is the registrar, Katkar said.

Quick Heal's equity shares are proposed to be listedon the BSE and the NSE, he added.