ITC Infotech to Acquire 22.1% Stake in Happiest Minds

ITC Infotech will acquire a 22.1% equity stake in Happiest Minds Technologies for ₹1,330 crore, marking a major consolidation in the mid-cap IT services sector.

The deal involves a share swap where Happiest Minds shareholders receive 25 ITC Infotech shares for every 81 held, with ITC Limited becoming the promoter with a 73.4% stake.

The combined entity, which reported a total revenue of ₹7,033 crore in FY26, aims to reach $1 billion in annual revenue by the end of the 2028 financial year.