Quick Heal Technologies plans IPO for security product expansion

Security software vendor Quick Heal Technologies is planning to mobilize funds through an initial public offering (IPO) during the next fiscal to fund its expansion into new markets and products.
“We are planning for IPO. We have plans to do it immediately after this financial year that is after 2014-15. We will be completing our audit may be by April-May and then go for it,” said Quick Heal Managing Director & CEO Kailash Katkar.

Quick Heal is planning to expand its reach globally and bring new products. The company already has mobile security products and there are plans to launch more products like Data Loss Prevention and Mobile Device Management.

“We are planning more and more security products for all kind of platforms like mobile, smart phone vertical, as well as enterprise vertical and even retail vertical,” he added.

Quick Heal anti-virus
The promoters own 90 percent and venture capital fund Sequoia Capital holds 10 percent equity of the company.

The company has its presence almost all across India. It also has international presence in Tokyo, Kenya and Dubai. The security vendor is planning to set up office in US  in the coming three to four months time.

The company also has presence via distributors in around 45 countries including Australia, New Zealand, Malaysia, Singapore, Thailand, Italy, Spain, etc.

Quick Heal clocked revenues of Rs 260 crore 2013-14 against Rs 215 crore in 2012-13. For the next fiscal, the company is targeting around Rs 300 crore revenue.

The company has already around 30-35 percent market share in India’s consumer anti-virus market.

Quick Heal will be hiring around 150-200 more people across categories this year. At present, it has around 1,000 employees.

The company has about 8 to 9 million customer base of which 90 percent is from India and rest is from international market.

InfotechLead News Team

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