The Rs 7.63-crore company has decided to tap the capital market with a public offer of 21,63,200 equity shares of Rs 10 each for cash at a premium of Rs 40 per share aggregating to Rs 10.81 crore. The funds will be utilised for funding the expansion of the company's software consulting and knowledge divisions and to set up a new subsidiary at the US.

Helios & Matheson, incorporated in 1991, has integrated operations in the areas of software development and computer education. The company focusses on Net-centric and visual computing. The company executes projects in the areas of internet, intranet and e-commerce.

On the training front, the company has struck an alliance partnership with Novell and has acquired the Novell Authorised Education Centre (NEAC) certificate for its Pondicherry centre and Novell Education Academic Partners (NEAP) certificate for its nine other training centres. It has also got a provisional accreditation for conducting a diploma courses in computer application from the Department of Electronics.

The company has also sought the recognition of the Department of Science and Technology for its latest product on interactive voice messaging system.

The paid-up capital of the company is Rs 2.5 crore and post-issue, it will go up to Rs 5 crore. The company earned a total revenue of Rs 7.63 crore during last fiscal of which about Rs 6.02 crore came from software development. The firm had declared a 15 per cent dividend last year.