had filed its Draft Red Herring Prospectus (DRHP) with SEBI in August while Quick Heal had submitted its draft documents in September. The Securities and Exchange Board of India cleared the proposed initial share sales and gave final observations on the IPOs on December 18.
As per the draft paper,'s IPO comprises fresh issue of equity shares worth Rs 350 crore and an offer for sale of up to 16.60 lakh scrips by existing shareholders. The existing investors include Bessemer India Capital Holdings, Draper Investment Company LLC, Hartenbaum Revocable Trust and Indrani Janakiraman.
According to sources, the company is expected to garner Rs 600-700 crore through the public offer. This would be the second major IPO by an Internet company after Just Dial. The local search engine firm had raked in Rs 950 crore through its public offer in 2013.
The funds would be used for business promotion, purchase and development of office premises in Chennai, repayment of overdraft facilities and procurement of hardware and software
requirements for a centrally controlled contact center and general corporate purposes.

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