Deal Street

March 14, 2016

Luthra & Luthra advises Quick Heal on IPO


luthra-luthraLuthra & Luthra Law Offices recently acted for the underwriters on the Initial Public Offering of Quick Heal Technologies Limited, one of the leading IT security solutions company, first provider of security software products and solutions to begin an Initial Public Offering (IPO) in India.

The IPO, with a sum of Rs. 4,512.53 million, comprised of a fresh issuance of equity shares by Quick Heal, as well as an offer for sale by some of its promoters and Sequoia Capital, an existing investor.

The underwriters to the IPO were ICICI Securities, Jefferies and J.P. Morgan.Following the notification of the latest settlement mechanism for IPOs, reducing the timeline between issue closing and initiation of trading of shares to six working days as opposed to the earlier timeline of 12 working days and making it mandatory for all investors (except anchor investors) to use the ASBA facility for making payments, this transaction is one of the first to be concluded.

The transaction team was headed by Manan Lahoty (Partner), Rohan Sahai (Senior Associate), Aishwarya Padmanabhan, Varsha Srinivasan and Priyadarshini Rao (Associates).

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