Software security firm Quick Heal is planning to raise Rs 1,200 crore through an initial public offering, reports the Economic Times. The publication added, citing sources, that the company will be hitting the markets in the third quarter this year and that it has appointed JP Morgan, ICICI Securities and Jefferies as lead managers for the issue. ET added that the board of Quick Heal is due to meet this week to finalise the exact percentage of equity dilution and that Sequoia Capital, which invested Rs 60 crore in the company, will make a partial exit with nearly 6.5 times return on constant currency terms. Note that Quick Heal has still not filed its draft red herring prospectus (DRHP) with markets regulator SEBI. Quick Heal was started out in 1993 as CAT Computer Services (P) Ltd and functioned primarily as a computer service center. It pivoted its business and pioneered anti-virus research and development in India. Kailash Katkar functions as the chief executive officer while Sanjay Katkar operates as the company's chief technology officer. The firm, which counts the likes of Just Dial and Apollo Hospitals among its largest enterprise customers. The company claims more than 17 million active customers and installations in more than 25,000 small, medium and large enterprises. Quick Heal also says that its revenue mix is 70% in retail and about 30% in corporate. Currently, the company has 33 branch offices in India and consists of 1,200 people in its team and a network of 15,000 channel partners in hundred…
