Happiest Minds merger with ITC Infotech approved; promoters to sell 22.1% stake

Acquisition announcedScheme filed with the NCLTStrategic Transactions View source PDF Explain this filing

HAPPSTMNDS · price

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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.

Price reactionminutes from the announcement price · days from the prior close

-11.7%Reaction day

₹408.60

prior close

₹404.00

announcement price

After-mkt

timing

Nifty Microcap 250market-1.0%-10.7% vs market

Computers - Software & Consulting peers, median of 66sector+0.0%-11.7% vs sector

On the reaction day the stock moved 10.7 pts less than Nifty Microcap 250 and 11.7 pts less than its Computers - Software & Consulting peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

Minutes after the announcementfrom the announcement price · no benchmark

Stock

-2.4

10m

-3.3

15m

-3.8

30m

-6.8

Sessions after the filingfrom the prior close

StockMarketvs marketSectorvs sector

Reaction day

-11.7-1.0-10.7+0.0-11.7

Next day

-13.0-1.5-11.5-0.5-12.5

-13.5-0.9-12.6-0.1-13.4

-13.4-0.3-13.1-0.4-13.0

-15.9+0.1-16.0-2.2-13.7

-15.6+0.7-16.3-2.7-12.9

-18.7+0.3-19.0-3.9-14.8

15d

-22.7+1.0-23.6-4.2-18.4

-25.4-2.4-23.0-7.6-17.7

-25.4-8.6-16.7-8.6-16.8

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UpDownMarket · Nifty Microcap 250Sector · Computers - Software & Consulting peers, median of 66Pending

Minute windows have no benchmark: there is no intraday index history to compare against.

AI summary

Board approved scheme of amalgamation with ITC Infotech India. Swap ratio: 25 ITC Infotech shares (FV INR 10) for every 81 Happiest Minds shares (FV INR 2). Subject to NCLT, CCI and shareholder approvals. Separately, promoters Ashok Soota and Ashok Soota Medical Research LLP to sell 22.106% stake (3.36 crore shares) to ITC Infotech for INR 1,329.72 crores in two tranches.

Likely market impact

Happiest Minds will merge into ITC Infotech. Promoter sale at about INR 390-400 per share sets value benchmark. Subject to approvals.