Quick Heal raises Rs.133.9 crore before IPO launch
Quick Heal Technologies, the software provider raised Rs.133.9 crore by issuance of shares to anchor investors such as BNP Paribas Advantage. The 10 anchors have been allotted 41.70 lakh equity shares at Rs.321 apiece, the upper end of the price band by Quick Heal. The IPO will be launched on 8 February. The money generated would go towards purchasing, developing and renovating its offices.
CAT Computer Services (P) Ltd is an IT security solutions provider founded in 1993. It was renamed as Quick Heal in 2007. Quick Heal provides products that are certified by AV-Test and ICSA Labs. The company has partnered with Microsoft and Intel and has a user base of over 17 million. It has a chain of 15000 channel associates in over 100 countries globally.
Quick Heal Technologies got an investment of Rs.60 crore (approximately $12.8 million) from Sequoia Capital. Quick Heal Technologies' MD and CEO Kailash Katkar said that "this round of funding from Sequoia would help us build a strong global platform". Apart from expanding its "product portfolio and global distribution network", the company also hoped to use a portion of the funds towards future acquisitions.
After getting funds from Sequoia, Quick Heal began developing security software aimed for enterprise customers. By 2013, it launched the first Enterprise Endpoint Security Software for computers and servers. Addressing the mobile security software space in the country, Quick Heal was the first company to launch PC2Mobile Scan which allowed users "to scan, detect and delete malware, spyware and viruses from mobile phones."
In February 2015, Quick Heal launched its Quick Heal Gadget Securance for Android which generated a revenue of Rs.2.5 crore in mere 5 months.
With a strong and diversified network, Quick Heal has grown at a CAGR of 17% since 2012. The majority of its revenue is generated from India. Product wise, 30% of its revenue comes from enterprise and government and the rest 70% from retail products. It has almost 319 government partners. In the last fiscal year, Quick Heal recorded a revenue of Rs.284 crores.
Quick Heal Technologies Limited's IPO will feature "at a price band of Rs.311-321 per equity share of face value of Rs.10 each."
