Happiest Minds to merge with ITC Infotech; targets USD 1 bn revenue by FY28

Acquisition announcedStrategic 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

Happiest Minds announced merger with ITC Infotech via share swap at a ratio of 25 ITC Infotech shares for every 81 Happiest Minds shares. ITC Infotech will first acquire 22.1 percent stake from promoters for 1,330 Cr at around 395 per share. ITC Limited will hold 73.4 percent in the merged entity. Combined FY26 revenue is about 7,033 Cr with 19,000 plus employees and 800 plus clients. Targets USD 1 bn by FY28. Subject to NCLT, CCI and other approvals, expected to close in 15 months.

Likely market impact

Share swap at 25:81 ratio. ITC becomes promoter with 73.4%. Shareholders receive ITC Infotech shares. Subject to approvals, 15 month timeline.