Pune’s anti-virus software product company Quick Heal plans IPO next year

Pune-based Quick Heal, maker of anti-virus and other computer security software, is planning an IPO next year, reports Economic Times

Excerpts:

Quick Heal […] will be the first Indian anti-virus software company to go public. And, if no other technology product firm beats it to the bourses, the first software product company to list in India after iFlex — now Oracle Financial Services — went public in 2002.

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Given the limited number of product companies that have listed in India, determining a market valuation will be more complicated as there are no precedents, especially in the security software space.

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In 2010, the Pune-based company was valued at Rs 600 crore, when Sequoia invested Rs 60 crore for a 10% stake. Sales have grown from Rs 10 crore a decade ago, to over Rs 200 crore this year. The company, which is expanding in Japan and the United States, hopes to boost its revenue to . 500 crore in three years.

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Kailash Katkar, 47, dropped out of formal schooling in his teens and began his career as a computer repairman. But seeing the rising relevance of computers, he pushed his brother Sanjay into graduating with a degree in computer science. Sanjay Katkar, 42, focussed on developing anti-virus software during his course, which eventually resulted in the birth of Quick Heal.

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