Quick Heal to make stock market debut tomorrow

Software provider Quick Heal Technologies, which raised Rs 451 crore through initial public offer (IPO), will list its shares on the stock exchanges tomorrow.
The equity shares will be listed on the NSE as well as on the BSE.
The IPO, which closed on February 10, was over-subscribed 11 times at a price band of Rs 311-321 per share.
The IPO consisted of fresh issue of Rs 250 crore and 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.
In a circular, BSE said "effective from Thursday, February 18, 2016, the equity shares of Quick Heal Technologies Ltd shall be listed and admitted to dealings on the exchange in the list of 'B' Group of securities."

Similarly, in a separate circular, NSE said that equity shares of Quick Heal will be listed on the exchanges tomorrow.

In the IPO, the portion set aside for qualified institutional buyers (QIBs) was subscribed 4.34 times, retail investors saw 3.8 times subscription and the non-institutional investors category was subscribed by 36.7 times.
Quick Heal had raised Rs 133.9 crore through issue of shares to 10 anchor investors.
ICICI Securities, Jefferies India and JPMorgan India were the book running lead managers while Link Intime India was the registrar to the public issue.
While the proceeds from the offer of sale would not go to Quick Heal, the Rs 250-crore funds raised from fresh issue of equity shares would be used by the company for advertising and sales promotion and capital expenditure for research and development.

Quick Heal, which provides software security products and solutions in India, said that proceeds would also be invested to purchase, develop and renovate its office premises in New Delhi, Kolkata and Pune, as well as for general corporate needs.