Happiest Minds Technologies Ltd (HAPPSTMNDS) — Announcement | 31 August 2026 (5 announcements)

Happiest Minds Technologies announced on August 31, 2026 that its promoters will sell 22.106% of the company to ITC Infotech India Limited for INR 13,29,71,77,710 in two tranches, while simultaneously approving a scheme to amalgamate with ITC Infotech, shift its registered office to West Bengal, and redeem all NCDs by September 26, 2026.

Happiest Minds announced a secondary share sale by promoters Ashok Soota and Ashok Soota Medical Research LLP to ITC Infotech India Limited for 3,36,61,700 shares representing 22.106% of paid-up capital, valued at INR 13,29,71,77,710 across two tranches at INR 390 and INR 400 per share. Concurrently, the Board approved a scheme to amalgamate the company into ITC Infotech, issuing 25 new shares for every 81 existing shares, redeeming all NCDs by September 26, 2026, and shifting the registered office to West Bengal pending shareholder and regulatory approvals.

Happiest Minds announced an investor presentation for its proposed merger with ITC Infotech, where ITC will acquire a 22.1% minority stake from promoters for ₹1,330 Cr via share swap. The combined entity will create India's 11th largest IT services platform with ₹7,033 Cr revenue and 19,000+ employees, targeting US$1 billion revenue by FY28. The transaction requires CCI, SEBI and NCLT approvals and includes a share exchange ratio of 25 ITC Infotech shares for every 81 Happiest Minds shares.

Happiest Minds Technologies announced a definitive merger with ITC Infotech to create an AI First global technology services enterprise targeting $1 billion annual revenue by FY28, combining complementary capabilities across AI, cloud, cybersecurity, and enterprise platforms while securing minority stake acquisition and share swap terms.

Happiest Minds Technologies announced a merger with ITC Infotech to form an AI-first global technology services company targeting $1 billion revenue by FY28, combining complementary capabilities across AI, cloud, cybersecurity, and enterprise solutions while creating cross-selling opportunities across 800+ customers and 30+ countries.