Chennai:
The Chennai-based software company Helios & Matheson
Information Technology Limited has decided to invest Rs75
crore in additional facilities in line with the company's
growth plans.
According
to the company chairman, V Ramachandiran, 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 will also invest
another Rs50 crore in the following two years in phase
two expansion in Tier II cities like Coimbatore.
At
the company's annual general meeting held on October 29,
2005, the shareholders of approved the 1:1 issue of bonus
shares.
The record date is fixed as October 29, 2005. The shareholders
have also approved the proposal to increase the authorised
share capital by Rs10 crore to Rs35 crore.
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