SENSEX   35511.58    251.29  (0.71%)      SENSEX   31697.13    50.67  (0.16%)      |  Gold   29747.00    102.00  (0.34%)    |  Silver  39082.00   165.00 (0.42%)

Latest News:

Quick Heal IPO subscribed 15% on first day

By
Quick Heal, Anchor Investors, IPO, Stock Market

New Delhi: Software provider Quick Heal Technologies' initial public offer (IPO) was subscribed 15 per cent on the first day of the offer on Monday.

The Rs 451-crore IPO received bids for 14,95,350 shares against the total issue size of 1,01,37,557 shares, data available with the NSE till 5:00 p.m. showed.

Non-institutional investors' portion was subscribed 3 per cent, while retail investors category received 29 per cent subscription.

Meanwhile, the portion reserved for qualified institutional buyers (QIBs) did not receive any bids till 5:00 p.m.

Quick Heal has already raised Rs 133.9 crore through issuing of shares to 10 anchor investors.

The company has fixed the price band at Rs 311-321 for its IPO.

The IPO, which would close on February 10, consists 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.

ICICI Securities, Jefferies India and JPMorgan India are the book running lead managers while Link Intime India is the registrar to the public issue.

While the proceeds from the offer of sale would not go to Quick Heal Technologies, 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.

The proceeds would also be invested to purchase, develop and renovate its office premises in Kolkata, Pune and New Delhi, as well as general corporate needs.

The company is a provider of security software products and solutions in India.

Quick Heal's equity shares are proposed to be listed on stock exchanges BSE and NSE

Comments (0)

No comments yet.


Leave a comment

(required)

No trackbacks yet.

??????