Mumbai: Helios & Matheson Information Technology Limited today announced its decision to invest Rs75 crore in additional facilities in line with the company's growth plans.

Announcing the decision, V Ramachandiran, chairman, Helios & Matheson, said today at the 13th AGM of the company, "Tamil Nadu offers excellent infrastructure to match our status as a global player. The government of Tamil Nadu is extremely co-operative and progressive in its IT initiatives, which has been an important factor in the growth of our operations here."

The company plans to invest approximately Rs25 crore this year in phase one of the project, which has the potential to grow to 400 people. Helios & Matheson plans to invest another Rs50 crore in the following two years in phase two expansion in Tier II cities like Coimbatore.

"Helios & Matheson is expanding, and we will invest in infrastructure to keep pace with this rapid growth. Coimbatore offers a large talent pool with close to 20 engineering colleges annually producing about 6,000 engineering graduates. We are committed to providing the best facilities for our people and I am sure our campus would prove to be an ideal environment for our employees," said GK Muralikrishna, CEO.

Shareholders of the Helios & Matheson also approved the 1:1 issue of bonus shares at the company's 13^th Annual General Meeting. The record date has been fixed as October 29, 2005. The bonus shares will be issued on receipt of requisite statutory approvals.

The shareholders have also approved the proposal to increase the authorised share capital of the company from the present Rs25 crore to Rs35 crore. The capital restructuring in the share capital was proposed to align the equity capital in line with the capital employed in the business.