Quick Heal surges on back of buyback offer

Gayathri Udyawar
/ Categories: Trending, DSIJ News
Quick Heal surges on back of buyback offer

The stock of Quick Heal was buzzing ahead of its buyback offer, which was approved by the company's board. The stock surged 7 per cent in morning trade and managed to close up by 4 per cent on Wednesday.

 

The company's promoters have expressed their intent to participate in the buyback tender offer and will be tendering in 46,02,772 equity shares of the company. The company's current promoter shareholding is at 72.33 per cent.

 

The total buyback offer approved by Quick Heal's board is for 63,63,636 shares of face value Rs. 10 which aggregates up to 9.02 per cent of the company's fully paid-up equity share capital. The buyback price is Rs. 275 per share.

 

For Q3FY19, the company's revenue grew by 15 per cent to Rs. 2,289 million, on YoY basis, while EBITDA grew by 63 per cent to Rs. 893 million with a margin of 39 per cent, YoY. The company's PAT grew by 89 per cent to Rs. 641 million with an improvement in margin to 28 per cent, YoY.

 

On Wednesday, the stock of Quick Heal Technologies closed at Rs. 233.25 per share, up by Rs. 9.05 or 4.04 per cent. The stock opened at Rs. 235.00 per share and hit an intraday high of Rs. 239.90 on BSE.

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