Quick Heal Technologies Limited — Capital/Financing Update 2021

May 17, 2021

Quick Heal Technologies Ltd.

Regd. Office: Marvel Edge, Office No. 7010 C & D, 7th Floor, Opposite Neco Garden Society, Viman Nagar, Pune 411014. Tel: +91 20 66813232 | Email: cs@quickheal.co.in CIN - L72200MH1995PLC091408

Ref. No.: QHTL/Sec/SE/2021-22/13 May 17, 2021

The Manager, The Manager, Corporate Services, Corporate Services, Mumbai – 400 001 Bandra (E), Mumbai – 400 051 Ref: Security ID: QUICKHEAL Symbol: QUICKHEAL Security Code: 539678 Series : EQ

BSE Limited, National Stock Exchange of India Limited, 14th floor, P J Towers, Dalal Street, Exchange Plaza, Bandra Kurla Complex,

Dear Sir/Madam,

Subject: Report of the Monitoring Agency for the quarter ended March 31, 2021

Please find enclosed herewith a Report of the Monitoring Agency, for the quarter ended March 31, 2021, for your records.

As permitted, this letter is being submitted under Sd/- mode due to work from home as per the Government advisory on Covid-19 and as a part of safety measure.

This is for your information and records.

Please acknowledge the receipt.

For Quick Heal Technologies Limited

Sd/-

A. Srinivasa Rao Company Secretary

Encl.: As above

AXB/CO/IFB-TS/21-22/08 April 19, 2021

To, Quick Heal Technologies Limited

Marvel Edge, 7010 C&D, 7th Floor, Opp. NECO Garden Society Pune – 411 014.

Kind Attn: Mr. Shankar Shinde

Dear Sir,

Sub.: Quick Heal Technologies Limited - Initial public offering of equity shares by the Company aggregating upto Rs. 250 Crores.

We write in our capacity of Monitoring Agent for the captioned initial public offering of the Company and refer to our duties cast under Regulation 41(2) of the Securities & Exchange Board of India (Issue of Capital & Disclosure Requirements) Regulations, 2009.

In terms of above, please find attached the Monitoring Report for the quarter ended March 31st 2021 as per aforesaid SEBI Regulations.

Request you to kindly take the same on records.

Thanking you, For Axis Bank Limited

Authorised Signatory

Report of the Monitoring Agency

Name of the Issuer: Quick Heal Technologies Ltd

For Quarter ended: March, 2021

Name of the Monitoring Agency: Axis Bank Limited

d(a) Deviation from the objects: No deviation from the objects (relevant comments are specified in the report below)

(b) Range of Deviation*: Not applicable (relevant comments are specified in the report below)

Declaration:

We hereby declare that this report is based on the format as prescribed by SEBI (ICDR) Regulations, 2009, as amended. We further declare that this report provides true and fair view of the utilization of issue proceeds.

We declare that we do not have any direct / indirect interest in or relationship with the issuer/promoters/directors/management and also confirm that we do not perceive any conflict of interest in such relationship / interest while monitoring and reporting the utilization of issue proceeds by the issuer. We also declare that the certificate is provided on the basis of management representation and certification provided by the independent chartered accountant.

For Axis Bank Limited

Authorized Signatory Date: 19 April, 2021

1) Issuer Details:

Name of the issuer: Quick Heal Technologies Ltd. The names of the promoters of the issuer: Kailash Katkar, Sanjay Katkar, Anupama Katkar and Dr. Chhaya Katkar. Industry/sector to which it belongs: Security software products and solutions.

2) Issue Details:

Issue Period: 16th February 2016 to 18th February, 2016 Type of issue (public/rights): Public Issue. Type of specified securities: Equity Shares. Grading: As this is an offer of Equity shares, no credit rating agency has been appointed in respect of obtaining grading for the offer. Issue size (Rs. in Crores): Fresh issue of Rs. 250 crores

3) Details of the arrangement made to ensure the monitoring of issue proceeds:

(Give item by item description for all the objects stated in offer document separately in following format)

Particulars	Comment
Advertising and sales promotion	As per annexure attached 3.1
Capital expenditure on research and development	As per annexure attached 3.1
Purchase, development and renovation of office	As per annexure attached 3.1
premises in Kolkata, Pune and New Delhi
General corporate purposes	As per annexure attached 3.1

# Where material deviation may be defined to mean:

a) Deviation in the objects or purposes for which the funds have been raised

b) Deviation in the amount of fund actually utilized by more than 10% of the amount projected in the offer documents.

4) Details of object(s)s to be monitored:

(i) Cost of object(s)-

(Give Item by Item Description for all the Objects Stated in Offer Document separately in following format)

(Rs. in million)
Sl.No	ItemHead	OriginalCost (as perOfferDocument)	RevisedCost	CommentsofMonitoring	Reasonof costrevision	Proposedfinancingoption	Comments of Board of DirectorsParticulars offirmarrangementsmade
1.	Offerrelatedexpenses	157.49	174.74	AgencyThe fact thatestimated offerrelated expensesare short ofactual expensesis mentioned inall earlierUtilizationCertificate*

* Relevant comments are provided in our report dated 25th October, 2016

(ii) Progress in the object(s)-Attached as Annexure 3.2

(iii) Deployment of unutilized IPO proceeds-

As all the funds related to offer has been utilized, there is no balance of unutilized funds available with the Company.

(iv) Delay in implementation of the object(s) -No. As per the objects of the offer stated in the prospectus the Total Net Proceeds received by Quick Heal Technologies Limited by way of IPO should be deployed during the fiscal years 2016,2017,2018 and 2019. However, if the funds are not utilized within prescribed period for reasons mentioned in prospectus, then such unutilized fund can be utilized in a fiscal year 2020 or any subsequent period as may be determined by the company.

Based on the above, the Board of Directors of Quick Heal Technologies Limited in meeting dated 13th February 2019 have decided to extend the utilization of Net Proceeds to the subsequent fiscal years upto 31 March 2021 stating that the same is within permissible reason as specified in prospectus.

ANNEXURE 3.1 TO THE MONITORING AGENCY CERTIFICATE DATED 15th April, 2021

Particulars	Reply	Monitoring Agency Comment	Comments of Board ofDirectors
Whether all the utilization isas per disclosure in OfferDocument?	Yes	Utilization is as per disclosurein prospectus.
Whether Shareholderapproval is obtained in caseof material deviations fromexpenditures disclosed inOffer Document?	Not Applicable	For the concerned period, thereis no material deviation for theexpenses incurred onadvertising and sales promotionexpenses and Capitalexpenditure on researchdevelopment & GeneralCorporate purpose
Whether means of financefor disclosed objects of theIssue has changed?	No	Nil
Any major deviationobserved over the earliermonitoring agency reports?	No	Not to our knowledge
Whether all Government /Statutory approvals related tothe object(s) obtained?	Not Applicable	Nil
Whether all arrangementspertaining to technicalassistance/collaboration inoperation?	Yes	Nil
Any favorable eventsimproving object(s) viability	No	Not to our knowledge

Particulars	Reply	Monitoring Agency Comment	Comments of Board ofDirectors
Any unfavorable eventsaffecting object(s) viability	No	Not to our knowledge
Any other relevantinformation that maymaterially affect the decisionmaking of the investors	No	Not to our knowledge

ANNEXURE 3.2 TO THE MONITORING AGENCY CERTIFICATE DATED 15th April, 2021

											Amount in million
	Item Head	Amount asproposedin Letter ofOffer	Amount utilized						Comments of Board ofDirectors
Sl.No			As atBeginning of thequarter	Duringthequarter	At theend ofthequarter	Transfer offunds afterapprovalobtained inAGM dt.15th July2019	Transfer offunds afterapprovalobtained inAGM dt.11th August2020	TotalunutilizedAmount	Comments of Auditor	Reasonof idlefunds	ProposedCourse ofAction
1	Advertising andSales Promotion	1110	736.89	123.11	860.00	0.00	-250.00	-	Expenses incurred on advertising and salespromotion are utilized from netproceeds and are inaccordance with the objects of the offer as stated inprospectus.Amount of Rs. 250 is transferred fromAdvertising and Sales Promotion object to GeneralCorporate Purpose object by resolution dated 11thAugust 2020
2	Capital expenditureonresearchanddevelopment	418.80	418.80	-	418.80	0.00	0.00	-	Not Applicable.
3	Purchase,developmentandrenovation of officepremises in Kolkata,PuneandNewDelhi	275.95	188.72	-	188.72	-87.23	0.00	-	For the said quarter, there is no expenditure incurredon Purchase, development and renovation of officepremises in Kolkata, Pune and New Delhi.Amount of Rs. 87.23 is transferred from Purchase,development and renovation of office premises inKolkata, Pune and New Delhi object to GeneralCorporate Purposes object by resolution dated 15thJuly 2019.
4	Generalcorporatepurposes	537.76	617.38	257.61	874.99	87.23	250.00	-	Utilization is as per disclosure in prospectus.Amount of Rs. 87.23 is transferred from Purchase,development and renovation of office premises inKolkata, Pune and New Delhi object to this object byresolution dated 15th July 2019. Amount of Rs. 250 istransferred from Advertising and Sales Promotionobject to this object byresolution dated 11th August2020.Further, Rs. 25,000 balance has been withdrawn asrounding off differences on 30 March 2021.
	Total	2342.51	1961.79	380.72	2342.51	-	-	-