Quick Heal IPO subscribed 11 times

10.14-mn share offering sees nearly 109 mn bids

Anti-computer virus product company Quick Heal Technologies saw robust demand for its initial public offering (IPO), with bids nearly 11 times the shares on offer.

The 10.14-million share offering of the Pune-based company saw nearly 109 million bids. The qualified institutional buyer (QIB) segment saw 4.3 times subscription and the retail portion was subscribed 3.7 times.

The high-net worth individual (HNI) segment was subscribed 37 times. Typically, HNI investors, who take leveraged bets, invest only if they see listing day gains.

The IPO was worth Rs 450 crore, of which about Rs 200 crore was secondary sale by promoters. Another Rs 134 crore came from anchor investors, by allotting 4.17 million shares at Rs 321 apeice. Quick Heal had fixed the price band for the issue at Rs 311 to Rs 321 per share.

Quick Heal was this calendar's third IPO, after Precision Camshaft and TeamLease Services.

 

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