Quick Heal makes a poor debut

There was a new listing on the bourses today. Quick Heal Technologies which made its debut today saw a tepid performance. It opened at Rs.305, down from its offer price of Rs.321. It did go to an intra day high of Rs329.95 but soon came off. It slipped intra day to a low of Rs.293. It currently stands at Rs.305.

Quick Heal Technologies sells captively developed anti-virus computer software under Quick Heal (for retail) and Seqrite (for SMBs and enterprises) brands, with retail sales accounting for ~87% of revenues. As of 31-12-15, it has 71 lakh active licences installed across 80 countries. However, international presence is very limited, as 97% revenues is derived from India. In addition, company has 11 lakh active licences for mobiles, sold under Fonetastic Free brand, which is a freemium product.

The IPO had opened on 5th Feb and closed on 10th Feb. It was subscribed 10.8 times.