ITC (ITC) — Corporate Action

📢 Key Event
ITC Infotech to acquire 22.106% HMTL stake and amalgamate the companies

🔄 What Changed
22.106% share acquisition approved and amalgamation scheme endorsed

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

💡 Investor Takeaway
This creates a larger, AI-focused IT services platform with expanded US presence and cross-selling opportunities.

ITC Infotech announced a strategic acquisition of a 22.106% stake in Happiest Minds Technologies from promoter Ashok Soota for approximately ₹1,330 crores in cash, alongside a scheme of amalgamation where HMTL shareholders will receive 25 ITC Infotech shares for every 81 HMTL shares. The transaction, subject to regulatory approvals including Competition Commission of India and stock exchanges, 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 verticals.

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About ITC Ltd (ITC)

Fast Moving Consumer Goods · FMCG · Listed on BSE

Market Cap: ₹3,31,216.49 Cr P/E: 16.7 ROE: 27.8% ROCE: 36.0% Div Yield: 5.49%

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

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