Quick Heal Technologies Limited — Capital/Financing Update 2021

Feb 4, 2021

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

Ref. No.: QHTL/Sec/SE/2020-21/58 February 04, 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 December 31, 2020

Please find enclosed herewith a Report of the Monitoring Agency, for the quarter ended December 31, 2020, 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/2020-21/119

January 21, 2021

To, Quick Heal Technologies Limited Marvel Edge, 7010 C&D, 7th Floor, Opp. NECO Garden Society Pune $-411014$ .

Dear Sir,

Kind Attn: Mr. Shankar Shinde

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 82(2) of the Securities & Exchange Board of India (Issue of Capital & Disclosure Requirements) Regulations, 2018.

In terms of above, please find attached the Monitoring Report for the quarter ended on December 31, 2020 as per Schedule XI of the aforesaid SEBI Regulations.

Request you to kindly take the same on records.

Thanking you.

For and on behalf of Axis Bank Ltd

Authorized Signatory

$\lambda$

Report of the Monitoring Agency

Name of the Issuer: Quick Heal Technologies Ltd

For Quarter ended: December, 2020

Name of the Monitoring Agency: Axis Bank Limited

(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 declare that this report is based on the format as prescribed by SEBI (ICDR) Regulations, 2018, as amended. We further declare that this report provides a 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 and on behalf of Axis Bank Ltd

Name: Mangalagowri Bhat Date: 21 January, 2021

Corporate Office: Auto Band, United, Auto Hause, IS 2 Waddi International Depths Toolwing Bullian neep 2000, Marosa - 100 005

1) Issuer Details:

Name of the issuer: Ouick Heal Technologies Ltd. The names of the promoters of the issuer: Kailash Katkar, Sanjay Katkar, Anupama Katkar and Dr. Chhava 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)

		Original					Comments of Board of Directors
SI.No.	ItemHead $\frac{1}{2}$	$Cost$ (as perOfferDocument)	RevisedCost	CommentsofMonitoringAgency	Reasonof costrevision	Proposedfinancingoption	Particulars offirmarrangementsmade
h.	Offerrelatedexpenses	157.49	174.74	The 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

(i) Deployment of unutilized IPO proceeds-

S1.no.	Type of instrumentwhere amountinvested*	Amountinvested	Maturitydate	AccruedinterestEarnings #	Return onInvestment$(ROI%)$	MarketValue as atthe end ofquarter**
1	Fixed Deposit in KotakMahindra Bank with FDNo. 8845025790	1,90,00,000	$25 - Mar - 21$	2,44,658	4.70%	1,92,44,658
$\overline{2}$	Fixed Deposit in KotakMahindra Bank with FDNo. 8814135505	4,87,50,000	$12-Mar-21$	23,56,027	$6.00%$	5, 11, 06, 027
$\overline{\mathbf{3}}$	Fixed Deposit in KotakMahindra Bank with FDNo. 8814135956	4,00,00,000	$15-Mar-21$	19,26,575	6.00%	4,19,26,575
$\overline{4}$	Fixed Deposit in KotakMahindra Bank with FDNo. 8845026292	3,65,00,000	$25-Mar-21$	3,71,250	3.75%	3,68,71,250
$\overline{5}$	Fixed Deposit in KotakMahindra Bank with FDNo. 8845013353	5,90,00,000	$01-Mar-21$	8,08,543	4.10%	5,98,08,543
$\overline{6}$	Fixed Deposit in KotakMahindra Bank with FDNo. 8845027268	6,75,00,000	$25-Mar-21$	7,26,503	4.05%	6,82,26,503
$\overline{7}$	Fixed Deposit in ICICIBank Ltd. with FD No.624013035465	4,87,50,000	$12-Mar-21$	23,56,028	$6.00%$	5,11,06,028
$, 8$	Fixed Deposit in ICICIBank Ltd. with FD No.42413019723	1,90,00,000	$01-Mar-21$	2,90,882	4.40%	1,92,90,882
9	Fixed Deposit in ICICIBank Ltd. with FD No.42413019731	1,90,00,000	$01-Mar-21$	2,88,592	4.40%	1,92,88,592
10	Fixed Deposit in ICICIBank Ltd. with FD No.42413019740	1,90,00,000	$01 - \text{Mar-}21$	2,86,301	4.40%	1,92,86,301
11	Fixed Deposit in ICICIBank Ltd. with FD No.42413019746	40,00,000	02-Mar-21	59,792	4.40%	40,59,792
12	Bank Balance in AxisAccountBankNo.916020008277004 ason 31st December 2020	14,25,584	NA	NA	NA	14,25,584
	Total	38.19.25.584		97.15.151		39 16 40 735

* Also indicate name of the party/company in which amounts have been invested** Where market value is not practical to find, provide NAV/NRV/Book Value of the same

Interest Accrued Earnings are mentioned as per interest accrued certificates issued by Bank.

Interest accrued as per unaudited books of account is Rs. 97,15,151 and as per Interest Certificates issued by bank is

$Rs$ 1197, 15, 151

3

(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 21st JANUARY, 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.
Whether means of financefor disclosed objects of theIssue has changed?	N 0	No, means of finance fordisclosed object of the issue hasnot been changed.
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	As declared by management, noseparate Government/ Statutoryapprovals are required related toexpenses incurred under thisobject.ĵ.
Whether all arrangementspertaining to technicalassistance/collaboration inoperation?	Yes	Nil
Any favorable eventsimproving object(s) viability	No	Not to our knowledge

$\overline{\mathfrak{z}}$

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

$\label{eq:3.1} \begin{array}{ll} \alpha & \alpha & \beta \ \beta & \beta & \gamma \end{array}$

$\alpha = 0.0000$ and $\alpha = 0.000$

$Q142$

ANNEXURE 3.2 TO THE MONITORING AGENCY CERTIFICATE DATED 21st JANUARY, 2021

ź

Amount in millionComments of Board of		Course ofProposedAction
	Directors	idle fundsReason of
	Comments of Auditor		salespromotion are utilized from net proceeds and arein accordance with the objects of the offer as statedfrom Advertising and Sales Promotion object toin prospectus. Amount of Rs. 250 is transferredGeneral Corporate Purpose object by resolutionExpenses incurred on advertising anddated 11 th August 2020	Not Applicable,	For the said quarter, there is no expenditureAmount of Rs. 87.23 isPurchase, development andrenovation of office premises in Kolkata, Pune andtransferred from Purchase, development andrenovation of office premises in Kolkata, Pune andNew Delhi object to General Corporate Purposesobject by resolution dated 15 th July 2019.$\sin$New Delhiincurred	Kolkata, Pune and New Delhi object to this object250 is transferred from Advertising and Salesdevelopment and renovation of office premises inAmount of Rs. 87.23 is transferred from Purchase,Promotion object to this object by resolution datedby resolution dated 15 th July 2019. Amount of Rs.Utilization is as per disclosure in prospectus.11th August 2020
		d AmountunutilizeTotal	123.11		ï	380.72257.61
	Amount utilized	AGM dt. 11 thAugust 2020obtained inTransfer offunds afterapproval	$-250.00$	0.00	$-0.00$	250.00
		obtained inTransfer offunds afterapprovalAGM dt.15 th July2019	0.00	0.00	$-87.23$	87.23
		quarterend ofAt thethe	736.89	418,80	$188.72	617.38	1961.80
		Duringquarterthe	26.44	١	t,	28.01	54.45
		Beginniquarterng ofAs atthe	710.45	418.80	188.72	589.37	1907.34
Amoun		proposeof OfferLetter$\dim$t as	1110	418.80	275.95	537.76	2342.51
	Item Head		Advertising andSales Promotion	$\overline{5}$anddevelopmentexpenditureresearchCapital	andrenovation of officeÈ,Kolkata, Pune anddevelopmentNew DelhiPurchase,premises	General corporatepurposes	Total
		$\overline{5}$ is		$\sim$	3	$\overline{\phantom{a}}$

$rac{1}{6}$