Quick Heal to invest Rs 100 cr in brand building

Indian IT security firm Quick Heal will invest Rs 100 crore in next three years in brand building specially to attract business organisations.
"We will invest Rs 100 crore in brand building campaign over period of next three years. In last fiscal, we invested Rs 28.8 crore in branding. Now we will focus more on enterprise segment," Quick Heal Managing Director and CTO Sanjay Katkar told reporters here.
The company is launching initial public offer on February 8 through which it expects to raise Rs 250 crore.
Quick Heal has fixed the price band at Rs 311-321 for the IPO which involves a fresh issue of equity shares by the company.

Post the public offer, promoters of the company will be left with around 73 per cent stake and investor Sequoia Capital with around 5 per cent stake and rest will be held by minor shareholders including employees of the company, an associate of JP Morgan, which is advising Quick Heal on IPO, said.
Katkar said that the company will invest Rs 40 crore in upgrading its laboratory to boost research and development activities from the raised funds.

"We have seen consistent growth in our revenue. In India we command leadership position with 30 per cent market share. Compared to foreign security solution provider, we have have set up 64 offices across 36 cities in India to provide technical support to our customers," Quick Heal Executive Director Abhijit Jorvekar said.

Another Rs 20 crore will be spent by the company to purchase, develop and renovate its office premises in Kolkata, Pune and New Delhi and rest will be used to meet general corporate needs, Katkar said.
"We are seeing good traction in enterprise segment. Banking and Finance sector is major contributor followed by education. We are seeing demand in government also picking up under 'Make in India' initiatives," Katkar said.
The company has operations in Japan, Kenya, Dubai and United States. It is also exploring opportunities in Africa.