Bangalore: Security software maker Quick Heal Technologies said it has plans to go for AN initial public offering (IPO) 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..." Quick Heal Managing Director & CEO Kailash Katkar told PTI here. Stating that this is to fund the company's expansion plans, he said, "we wanted to expand our reach globally to have more products in security for all digital security. We already have mobile security; we are coming with more products like DLP (Data Loss Prevention), MDM (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. Responding to a question, Katkar said: "The size of the IPO and dilution percentage of promoters holding and Sequoia Capital is yet to be finalised." The promoters own 90 per cent and venture capital fund Sequoia Capital holds 10 per cent equity of the company. Commenting on the geographical presence of the company, he said: "The company has its presence almost all across India...; it also has international presence in Tokyo, Kenya, we have recently started our office at Dubai, and we are planning to setup office in US now- in the coming three to four months time."
The company also has presence via distributors in Australia, New Zealand, Malaysia, Singapore, Thailand, Italy, Spain, etc, he said, adding, "In this way, we have partners in around 45 countries." On sales, Katkar said, "last year (2013-14) we did Rs 260 crore and in 2012-13 was Rs 215 crore so it grew by about 20 per cent. For the next fiscal we are targeting around Rs 300 crore." He said demand for mobile security is one among the major factors that is driving growth.
