Happiest Minds Technologies Ltd

Happiest Minds Technologies Ltd has announced that its Board of Directors will convene on November 2, 2026. The primary agenda items include the consideration and approval of the unaudited financial statements for the second quarter and half-year ended September 30, 2026, both on a standalone and consolidated basis, prepared under Indian Accounting Standards (IndAS). Additionally, the board will discuss the potential declaration of an interim dividend for the financial year 2026-27. Further details will be made available on the company's investor website and the BSE/NSE websites.

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.

Happiest Minds Technologies Ltd has announced the closure of its trading window for all designated persons and their immediate relatives. This closure will be effective from October 01, 2026, and will remain in effect until 48 hours after the declaration of the company's financial results for the quarter ending September 30, 2026. This measure is in compliance with SEBI (Prohibition of Insider Trading) Regulations, 2015, and the company's internal code.

Happiest Minds Technologies announced a proposed combination with ITC Infotech, accelerating its vision to become a USD 1 billion revenue company by FY28, moving the target from FY31. The transaction involves promoter Mr. Soota divesting 22.1% of his 44.2% holding to fund his not-for-profit organizations and healthcare venture. The call transcript details the transaction structure, valuation, governance, and strategic rationale, highlighting complementary strengths and long-term value creation. The deal is subject to regulatory, shareholder, and statutory approvals.

Happiest Minds Technologies Ltd's Board of Directors has approved a Scheme of Amalgamation with ITC Infotech India Limited. The merger, subject to regulatory approvals, will see Happiest Minds (Transferor Company) being absorbed by ITC Infotech (Transferee Company). Shareholders of Happiest Minds will receive 25 equity shares of ITC Infotech for every 81 shares held. The board also approved shifting the registered office from Karnataka to West Bengal. Additionally, a secondary transaction involving the sale of 22.106% stake by promoters Ashok Soota and Ashok Soota Medical Research LLP to ITC Infotech for ₹1,329.72 crore was disclosed.

Happiest Minds Technologies Ltd announced that its selling promoters, Mr. Ashok Soota and Ashok Soota Medical Research LLP, have executed a Share Purchase Agreement (SPA) with ITC Infotech India Limited for the sale of 3,36,61,700 equity shares, representing 22.106% of the company's paid-up equity share capital. The transaction, valued at ₹1,329.72 crore, will be consummated in two tranches. Additionally, the Board of Directors has approved a Scheme of Amalgamation where Happiest Minds Technologies will merge with ITC Infotech India Limited. Upon amalgamation, ITC Infotech will issue 25 equity shares of ₹10 each for every 81 equity shares of ₹2 each held in Happiest Minds. The scheme is subject to regulatory and statutory approvals.

Happiest Minds Technologies Limited's Board of Directors has approved a scheme of amalgamation with ITC Infotech India Limited. The merger, subject to regulatory approvals, will see Happiest Minds absorbed into ITC Infotech. Shareholders of Happiest Minds will receive 25 equity shares of ITC Infotech (INR 10 face value) for every 81 shares they hold (INR 2 face value). Additionally, the board approved a secondary sale of 22.106% of Happiest Minds' equity shares by promoters Ashok Soota and Ashok Soota Medical Research LLP to ITC Infotech India Limited for ₹1,329.72 crore. This sale will occur in two tranches at ₹390 and ₹400 per share respectively. Outstanding NCDs of Happiest Minds will be redeemed by September 26, 2026.

Happiest Minds Technologies has announced definitive agreements to merge with ITC Infotech, aiming to create a scaled, AI-first global technology services enterprise. The combined entity is projected to achieve US$1 billion in annual revenue by FY28, with over 19,000 employees and operations in more than 30 countries. The merger will combine Happiest Minds' strengths in AI, digital engineering, and cloud with ITC Infotech's expertise in enterprise transformation, SAP, and PLM. ITC Limited will be the promoter of the merged company with a significant stake. The transaction, which involves ITC Infotech acquiring a minority stake in Happiest Minds and a subsequent share swap, is expected to be completed within 15 months, subject to regulatory approvals.

Happiest Minds Technologies Limited has announced definitive agreements to merge with ITC Infotech India Limited. The combined entity aims to become a scaled, AI-first global technology services enterprise with US$1 billion in annual revenue by FY28. The merger will create a company with over 19,000 employees and operations in more than 30 countries. The transaction involves ITC Infotech acquiring a ~22.1% stake in Happiest Minds for ₹1,330 Cr and a share swap where Happiest Minds shareholders will receive 25 ITC Infotech shares for every 81 Happiest Minds shares. ITC Limited will be the promoter with a ~73.4% stake. The merger is expected to be completed within 15 months, subject to regulatory approvals.

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.