Happiest Minds Amalgamates with ITC Infotech; Promoter Sells 22.1% Stake

Happiest Minds Technologies Ltd announced a significant corporate restructuring following a board meeting on August 31, 2026. The company will amalgamate with ITC Infotech India Limited, with shareholders receiving 25 ITC Infotech shares for every 81 Happiest Minds shares. Concurrently, selling promoters, Mr. Ashok Soota and Ashok Soota Medical Research LLP, have executed a share purchase agreement to sell 22.106% of the company's equity to ITC Infotech India Limited for ₹1,329.72 crore. The transaction will occur in two tranches with different per-share considerations.