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Happiest Minds to Merge With ITC Infotech; Promoters Sell 22.1% Stake

Happiest Minds Technologies logoHappiest Minds Technologies
Sig4.13Sen+4.41Env0.00Soc+0.52Gov+1.36

Happiest Minds Technologies will merge with ITC Infotech India Ltd after ITC Infotech buys a 22.1% stake from founder Ashok Soota and Ashok Soota Medical Research LLP for Rs 1,329.72 crore. The promoter group will sell 3.366 crore shares in two tranches, followed by a scheme of amalgamation, subject to statutory and regulatory approvals, with Happiest Minds shareholders to receive an ITC Infotech share swap ratio.

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