Economy
ITC Infotech to Acquire 22.1% Stake in Happiest Minds
Upstox48m
THE BRIEF
1
ITC Infotech will acquire a 22.106% stake in Happiest Minds Technologies for ₹1,330 crore as part of a merger to create an AI-first enterprise with $1 billion revenue by FY28.
2
The acquisition will occur in two tranches at ₹390 and ₹400 per share, resulting in ITC Limited holding a 73.4% stake in the combined entity, which reported a combined FY26 revenue of ₹7,033 crore.
3
Following the merger, ITC Infotech is proposed to be listed on the BSE and NSE, while Happiest Minds reported an 18.3% year-on-year net profit growth to ₹67.6 crore for Q1 FY27.