ITC Infotech to buy 22.1% of Happiest Minds for ₹1,330 crore, merge operations
ITC Infotech will acquire a 22.1% stake in Happiest Minds in a ₹1,330 crore deal before merging operations. ITC Limited is set to hold 73.4% of the combined listed entity, which targets $1 billion turnover by FY28.
What happened
ITC Infotech will acquire a 22.1% stake in Happiest Minds for about Rs 1,330 crore and merge operations. ITC will retain 73.4% of the listed combined entity,
Key facts
- 22.1% stake acquisition
- Rs 1,330 crore transaction value
- 3,36,61,700 equity shares
- 11% first tranche at Rs 390 per share
- 11.106% second tranche at Rs 400 per share
- USD 1 billion turnover target by FY28
- Over 19,000 employees
- ITC Limited to hold 73.4% post-merger
- Happiest Minds shareholders to hold 26.6%
- Combined FY26 revenue of Rs 7,033 crore
- Happiest Minds FY26 turnover of Rs 2,315.11 crore
- ITC Infotech FY26 revenue of Rs 4,718 crore