Financial Express reports that Pune-based computer security software products company Quick Heal is planning an IPO in Dec-Jan.
This is likely to be Pune’s first software product company IPO, unless Pubmatic manages to do an IPO before that (which is still quite possible).
Excerpts from the article:
In 2010, the Pune-based company was valued at Rs 600 crore, when Sequoia invested Rs 60 crore for a 10 per cent stake.
Sales have grown from Rs 10 crore a decade ago, to over Rs 215 crore in FY 13 and expects to cross Rs 250 crore mark in FY 14, Katkar said.
“Over a span of 20 years the company’s R&D has focused on computer and network security solutions. We now plan to expand new products range with the launch of new version of end point security (EPS) in July-August this year. We are also offering data loss prevention and mobile devise management to our customers,” Katkar said.
The company has more than 8 million customers in 60 countries. The company has strong global presence with offices in Dubai, Japan, USA and Kenya. It plans to strengthen the staff strength in these offices and looking at opening new office in Europe and Australia in the near future, he added.
QuickHeal, which claims a 35 per cent market share in India’s consumer anti-virus market, was founded by Pune-based brothers Kailash Katkar and Sanjay Katkar.
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