ITC (ITC) — Board Meeting

📢 Key Event
ITC Infotech approved acquisition of 22.1% stake in Happiest Minds and scheme of amalgamation

🔄 What Changed
22.1% share acquisition approved at ₹1,330 crores cash consideration and amalgamation scheme

🔮 What's Next
Transaction completion expected within 15 months subject to statutory approvals

💡 Investor Takeaway
This creates a larger, AI-focused IT services platform with expanded capabilities and market reach for shareholders

ITC Infotech approved acquiring a 22.1% stake in Happiest Minds Technologies from promoter Ashok Soota for approximately ₹1,330 crores in cash, alongside a scheme to amalgamate Happiest Minds into ITC Infotech. The transaction, subject to regulatory approvals including Competition Commission of India and stock exchanges, will fund the purchase via a rights issue and aims to create a scaled AI-first global technology services entity targeting $1 billion revenue by FY28. The combined entity will double ITC Infotech's Americas presence and expand capabilities in BFSI, Healthcare, and EdTech.

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About ITC Ltd (ITC)

Fast Moving Consumer Goods · FMCG · Listed on BSE

Market Cap: ₹3,21,067.62 Cr P/E: 16.2 ROE: 27.8% ROCE: 36.0% Div Yield: 5.66%

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Source: Stock Announcements. Analysis by StockFin.ai. For informational purposes only — not investment advice.

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