The famous American venture capital firm has exited this debt free company by offloading its entire 3.4 percent stake in the open market on Thursday.
On Thursday the shares of Quick Heal Technologies closed at Rs 277.65 up by 8 percent and the market capitalization of the company is 1,470 Cr.
As per the reports and Bulk/Block deals data on NSE and BSE, Sequoia Capital has exited Quick Heal Technologies by offloading its entire stake of 3.4 percent.
Sequoia Capital has sold 17,85,975 shares in total, 13,60,975 shares in BSE and 4,25,000 shares in NSE at an average price of Rs 240. The stake sale has fetched Sequoia Capital a sum of 42.86 Cr.
After the stake sale, Carnelian Asset Advisors Private Limited bought 7,50,000 shares at price of Rs 240 and Graviton Research Capital LLP bought 3,14,847 shares at price of 265.
The company’s revenue has decreased by 18.66 percent from 341.9 Cr in FY22 to 278.09 Cr in FY23, accompanied by decreasing profits of 83.19 Cr to 6.4 Cr.
The company has reported a return on equity (ROE) of 1.24 percent and return on capital employed (ROCE) of 1.53 percent. The company’s profitability ratios have come down due to decrease in sales and increase in the operating expenses.
According to the latest shareholding data available for the June 2023 quarter, the company’s Promoters hold 73.08 percent stake, and the Foreign Institutional Investors (FII) hold 2.02 percent.
Quick Heal Technologies is engaged in the business of providing security software products and solutions.
Written by: Bharath K.S
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