Security solutions provider Quick Heal Technologies is all set to hit the capital markets with its IPO on Monday with a price band of Rs. 311 to Rs. 321 per equity share of face value of Rs. 10 each.
The IPO consists of a fresh issue of Rs 2,500 million by the company and 62.70 lakh equity shares by promoters Kailash Sahebrao Katkar and Sanjay Sahebrao Katkar and Sequoia Capital India Investment Holdings III.
Not less than 15% of the Net Offer will be available for allocation on a proportionate basis to Non-Institutional Investors and not less than 35% of the Net Offer will be available for allocation to Retail Individual Investors.
Equity Shares aggregating up to Rs. 50 million shall be made available for allocation on a proportionate basis to the Eligible Employees Bidding in the Employee Reservation Portion, subject to valid Bids being received at or above the Offer Price.
ICICI Securities, Jefferies and J. P. Morgan are the Book Running Lead Managers while Link Intime is the registrar.
The 250 crore raised funds from the euity shares will be utilized for marketing initiatives and research and development. Quick Heal’s equity shares are proposed to be listed on the BSE and the NSE.