Quick Heal raises Rs 134 cr from anchor investors

Ahead of its IPO, which opens on Monday, software provider Quick Heal Technologies has raised Rs 133.9 crore through issue of shares to 10 anchor investors, including BNP Paribas Advantage and Reliance MF. Quick Heal has alloted 41.70 lakh equity shares at Rs 321 apiece, the upper end of the price band, to 10 anchor investors. The anchor investors include foreign investors -- Driehaus Emerging Markets Smallcap Growth Fund, Nomura India Stock Mother Fund, BNP Paribas Advantage and Jupiter India Fund.

Besides, ICICI Prudential MF, Birla Sun Life Insurance, Reliance MF, Sundaram MF, Axis MF and Reliance Life Insurance are among the domestic investors. Quick Heal has fixed the price band at Rs 311-321 for its initial public offer (IPO), which will hit the market on February 8. The IPO, which would close on February 10, involves a fresh issue of equity shares by the company.

Besides, the issue consists of 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 BSE and NSE.