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 13th 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.
|