Happiest Minds Technologies Ltd (HAPPSTMNDS) — Announcement | 7 September 2026

Happiest Minds announced a proposed merger with ITC Infotech, where promoter Soota will divest 22.1% of his 44.2% stake for INR1,330 crores in two tranches. The merger will amalgamate Happiest Minds into ITC Infotech, with shareholders receiving 25 ITC Infotech shares for every 81 Happiest Minds shares. Post-merger, ITC Limited will own 73.4% of the combined entity, with public shareholders holding 26.6%. The combined company will be valued at approximately INR18,087 crores, with Happiest Minds shareholders continuing to benefit from growth toward a $1 billion revenue target by FY28 and improved operational scale.