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.

(This article was published in the Business Line print edition dated September 30, 2005)
XThese are links to The Hindu Business Line suggested by Outbrain, which may or may not be relevant to the other content on this page. You can read Outbrain's privacy and cookie policy here.