Indian anti-virus software maker Quick Heal Technologies Ltd, which is backed by Sequoia Capital, filed a prospectus for a stock listing with the domestic market regulator on Wednesday.
The IPO will involve the sale of new shares worth up to 2.5 billion rupees ($38.03 million) and 6.8 million shares currently held by promoters including Indian units of Sequoia Capital and company founders, Quick Heal said in a statement.
Sequoia, which currently holds more than 10 percent stake in Quick Heal, is looking to sell about 4.6 percent of its stake, according to a source familiar with the matter.
ICICI Securities, Jefferies and JP Morgan will be the underwriters, according to Quick Heal. ($1 = 65.7300 Indian rupees)
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