Sneha Kailash Katkar, a promoter of Quick Heal Technologies Limited, is set to acquire 33,19,498 equity shares, representing 6.14% of the company's equity share capital, from Anupama Kailash Katkar, an immediate relative and fellow promoter. The proposed acquisition, slated to occur on or after June 24, 2025, will be executed through an open market block deal, as detailed in a disclosure submitted to the stock exchanges on June 17, 2025.
This transaction is categorized as an inter-se transfer of shares among promoters and is part of a "Re-organizing of Investments." Crucially, the aggregate shareholding of the Promoter and Promoter Group in Quick Heal Technologies Limited will remain unchanged post this transaction.
| Particulars | Details |
|---|---|
| Name of Target Company (TC) | Quick Heal Technologies Limited |
| Name of Acquirer | Sneha Kailash Katkar (Promoter) |
| Name of Seller | Anupama Kailash Katkar (Promoter, Immediate Relative of Acquirer) |
| Number of Shares to be Acquired | 33,19,498 equity shares (Thirty Three Lakhs Nineteen Thousand Four Hundred Ninety Eight) |
| Face Value per Share | ₹10 (Rupees Ten only) |
| Percentage of Share Capital to be Acquired | 6.14% |
| Proposed Date of Acquisition | On or after 24 June 2025 |
| Mode of Acquisition | Open Market under Block Deal |
| Price of Acquisition | Prevailing market price |
| Rationale for Transfer | Re-organizing of Investments |
Transaction Overview and Regulatory Compliance
The disclosure, made under Regulation 10(5) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 (SAST Regulations), outlines the specifics of this proposed internal restructuring of promoter holdings. Sneha Kailash Katkar, already a part of the promoter group, will increase her stake in the cybersecurity solutions provider through this acquisition from Anupama Kailash Katkar.
The transaction falls within the exemptions provided under Regulation 10(1)(a)(i) and (ii) of the SEBI (SAST) Regulations, 2011. These clauses typically exempt inter-se transfers between persons named as promoters in the shareholding pattern filed by the target company for not less than three years prior to the proposed acquisition, and transfers between immediate relatives, from the obligation to make an open offer, provided certain conditions are met.
The acquirer has declared that all conditions specified under Regulation 10(1)(a) with respect to exemptions have been duly complied with. Furthermore, it has been affirmed that the transferor and transferee have complied, and will comply, with applicable disclosure requirements in Chapter V of the Takeover Regulations, 2011 (and corresponding provisions of the repealed Takeover Regulations, 1997) for the three years prior to the proposed acquisition date.
Regarding the pricing, the disclosure mentions that the volume-weighted average market price (VWAP) for Quick Heal Technologies Limited's shares for a period of 60 trading days preceding the date of issuance of the notice (June 17, 2025), as traded on the stock exchange with the maximum trading volume, was ₹364.30 per share. The acquirer has declared that the acquisition price will not be higher by more than 25% of this computed price, adhering to regulatory requirements for such exempted transactions. The shares are proposed to be acquired at the "prevailing market price" through a block deal mechanism.
Impact on Shareholding Structure
This inter-se transfer will lead to a significant shift in individual holdings within the promoter group, although the collective promoter stake remains constant. The following table illustrates the change in shareholding for the involved parties:
| Shareholder Category | No. of Shares / Voting Rights (Before Transaction) | % w.r.t Total Share Capital of TC (Before Transaction) | No. of Shares / Voting Rights (After Transaction) | % w.r.t Total Share Capital of TC (After Transaction) |
|---|---|---|---|---|
| Acquirer(s) and PACs (other than sellers) (Sneha Kailash Katkar) | 3,68,017 | 0.68% | 36,87,515 | 6.83% |
| Seller(s) (Anupama Kailash Katkar) | 1,11,72,970 | 20.68% | 78,53,472 | 14.53% |
Post-acquisition, Sneha Kailash Katkar's holding (along with PACs other than sellers) will increase from 0.68% (3,68,017 shares) to 6.83% (36,87,515 shares). Conversely, Anupama Kailash Katkar's holding will decrease from 20.68% (1,11,72,970 shares) to 14.53% (78,53,472 shares).
The key takeaway from this restructuring is the consolidation of a larger stake with Sneha Kailash Katkar, while Anupama Kailash Katkar continues to hold a significant portion of shares. The company has emphasized that "The Aggregate holding of Promoter and Promoter Group before and after the above inter-se transaction remains the same." This implies that the overall promoter control and commitment to the company are unaffected by this internal rearrangement.
Promoter Group Dynamics and Rationale
The stated rationale for this substantial share transfer is "Re-organizing of Investments." Such reorganizations within promoter families or groups are not uncommon and can be driven by various factors, including succession planning, individual financial planning, or strategic realignment of holdings among family members or promoter entities. In this instance, the transfer is between immediate relatives who are both part of the promoter group, underscoring the internal nature of the transaction.
The fact that the acquisition is being made through a block deal on the open market suggests a transparent execution mechanism, even though it's an inter-se transfer. Block deals involve a single transaction of a minimum quantity of 5 lakh shares or a minimum value of ₹10 crore, executed through a separate trading window.
About Quick Heal Technologies Limited
Quick Heal Technologies Limited is a prominent India-based cybersecurity solutions provider. The company's shares are listed on both the BSE Limited (Security ID: QUICKHEAL, Security Code: 539678) and the National Stock Exchange of India Limited (Symbol: QUICKHEAL, Series: EQ). The company's registered office is located in Pune.
Market Implications
Inter-se transfers of shares among promoters, especially when the aggregate promoter holding remains unchanged, are generally viewed by the market as neutral events. They do not typically signal a change in the overall promoter confidence or control in the company but rather an internal restructuring of ownership. Since this transaction is explicitly stated to be for "Re-organizing of Investments" and maintains the total promoter group shareholding, it is unlikely to cause significant market speculation regarding the company's fundamentals or future prospects.
The execution of the transfer via a block deal at the "prevailing market price" further suggests that the transaction will align with current market valuations. While large block deals can sometimes cause temporary volatility, the pre-disclosed nature and the inter-promoter context usually mitigate widespread market reactions. Investors will likely focus on the continued stability of the promoter group's overall commitment to Quick Heal Technologies Limited.
The disclosure was signed by Sneha Kailash Katkar in her capacity as the acquirer on June 17, 2025, from Pune.
