By | APARAJITA CHOUDHURY | http://yourstory.com/
Mahatma Gandhi once said, “You must be the change you wish to see in the world.” The story of Kailash Sahebrao Katkar and Sanjay Sahebrao Katkar of Quick Heal Technologiesbears testament to this, and shows us that even entrepreneurship can come from the desire to change the world and by breaking out of your comfort zone.
Set for IPO
On February 8, Quick Heal Technologies will hit the capital markets with its IPO at a price band of Rs 311 to Rs 321 per equity share and a fresh issue of Rs 250 crore. Its equity shares are proposed to be listed on the BSE and NSE.
The IPO comprises an offer for sale of upto 6,269,558 equity shares by the Katkars, Sequoia Capital India Investment Holdings III, and Sequoia Capital India Investments III.
Quick Heal will become the first Indian software product to hit the capital markets with an IPO marking an epic journey that began in a small village in Maharashtra.
Born in Rahimatpur, Kailash had to provide for his family by taking up a job in a radio and calculator shop, at a salary of Rs 400 per month, soon after his matriculation exams. Simultaneously, he started earning Rs 2,000 a month by taking up screen printing, and the repair of radios, ledger posting machines and TVs.
Soon after, he opened his own hardware repair shop and was making a comfortable living. He noticed the rising popularity of computers and shifted his focus to these over other machines. He started a workshop for computer repairs in 1990 and eventually won the annual maintenance contract for New India Insurance. His brother Sanjay (who was then studying for his MCS degree) observed that the majority of requests were for computers that had been virus-infected. The duo then came up with the idea of a security software company Quick Heal and released their first Quick Heal Antivirus for DOS in 1995.
Kailash is MD and CEO, and Sanjay is joint-MD and CTO. Before launching the first version of Quick Heal, Sanjay had created a few tools to kill the Michaleangelo virus. Kailash started distributing those tools for free to his customers. Having received a positive response, he suggested that Sanjay create an anti-virus software out of those tools. Kailash then approached hardware vendors to educate them on how to sell this software.