Happiest Minds: Promoter Sells 22.1% Stake for ₹1,330 Cr; Merger with ITC Infotech Approved

Happiest Minds Technologies Ltd announced a significant secondary transaction where promoters Ashok Soota and Ashok Soota Medical Research LLP will sell 22.106% stake to ITC Infotech India Limited for ₹1,329.72 crore. The sale will occur in two tranches, with shares priced at ₹390 and ₹400 respectively. Concurrently, the Board of Directors approved a Scheme of Amalgamation with ITC Infotech India Limited, where Happiest Minds will merge into ITC Infotech. Upon effectiveness, shareholders of Happiest Minds will receive 25 equity shares of ITC Infotech for every 81 shares held. Outstanding NCDs will be redeemed by September 26, 2026.