ITC Infotech Freezes 11.1% Stake in Happiest Minds

ITC Infotech India Limited has entered into a Share Purchase Agreement (SPA) with Mr. Ashok Soota and Ashok Soota Medical Research LLP to acquire 3,36,61,700 equity shares of Happiest Minds Technologies Limited (HMTL). As part of the agreement, 1,69,11,471 equity shares, representing 11.106% of HMTL's total share capital, have been frozen in the depository system. This disclosure is made under SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011. ITC Infotech clarifies that it does not currently hold any beneficial or economic interest in these shares, with legal and beneficial ownership remaining with Mr. Ashok Soota. The freeze is a precursor to the acquisition, subject to SPA terms.