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Friday, Sep 30, 2005

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Helios & Matheson to invest Rs 75 cr in TN

Our Bureau

Chennai , Sept. 29

HELIOS & Matheson Information Technology Ltd, a Chennai-based software company, plans to invest Rs 75 crore in additional facilities in Tamil Nadu.

Announcing this at the company's 13th annual general meeting, Mr V. Ramachandiran, Chairman, Helios & Matheson, said in the first phase the company would invest around Rs 25 crore and another Rs 50 crore in the next two years in tier II cities such as Coimbatore.

The company's shareholders approved the 1:1 issue of bonus shares. They also approved the proposal to increase the s authorised share capital to Rs 35 crore from Rs 25 crore to align the equity capital in line with the capital employed in the business, said a company press release.

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