Chennai, Oct 22: Helios & Matheson Information Technology Ltd, a Chennai-based infotech firm, is in talks with a few publishing firms in the country to bring out their publications in the form of EMS (Educational Multimedia Software) titles. This initiative is a fall-out of the company's recent foray into the area of making CD educational titles and multimedia software. The company is in the process of setting up a digital studio at an outlay of Rs 1 crore in Pondicherry.The studio division has already bagged a Rs 80-lakh order from Redington India to prepare an advertisement campaign to promote the usage of computers featuring all leading hardware brands that are being marketed by Redington.
The advertisement is likely to be aired in all major television channels within couple of weeks, said V Ramachandiran, chairman of the company.Helios is also busy drafting a distribution network plan to market its CD titles, both within and outside the country. The company will soon open offices at Singapore and the US to expand its marketing reach, he said.The firm has also decided to completely phase out its financial business, being managed under the name of Express Financial Exchange Ltd, Ramachandiran said.
Major share of the company's revenue had been coming from the IT division and this had impelled the promoters to get out of non-software business and focus only in infotech activities, he said.
With a view to raising funds for all its expansion plans, the Rs 7.63-crore company has decided to come out with an IPO of 21,63,200 equity shares of Rs 10 each for cash at a premium of Rs 40 per share aggregating Rs 10.81 crore. The issue opens on October 27 and closes on November 3, 1999.
Copyright © 1999 Indian Express Newspapers (Bombay) Ltd.