Tuesday, September 28, 2021
HomeBusinessQuick Heal IPO oversubscribed 1.81 times

Quick Heal IPO oversubscribed 1.81 times

The initial public offer (IPO) of software provider Quick Heal Technologies has been oversubscribed 1.81 times till afternoon on the last day of the offer today.

Quick Heal-AVThe Rs 451-crore IPO received bids for 1.83 crore shares against the total issue size of over 1 crore shares, data available with the NSE till 1300 hrs showed.

Quick Heal has already raised Rs 133.9 crore through issue 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 today, 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.

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