Quick Heal Technologies, a security software developer, announced it intends to launch an initial public share offering in India. Quick Heal Technologies said the net proceeds would be used to fund its product line development and to finance its plans of expansion into new market segments. Quick Heal Technologies is backed by Sequoia Capital, a venture capital firm.

Quick Heal expects to file its draft red herring prospectus, or DRHP, next year. DRHP is a document that summarizes IPO details for investors, detailing financial information and future prospects for the share being offered in the market debut. The company would begin the listing process after its has filed its DRHP with India's regulatory commission. When Quick Heal finalizes its IPO, it will be the first anti-virus software developer in Indian to go public.

According to Quick Heal chief technology officer and co-founder Sanjay Katkar, "We're looking at appointing independent board members as we prepare to list, within the next 18 months."

The company had a total valuation at INR600 crore in 2010. Sequoia committed INR60 crore for a 10% stake in the company on the same year.