Announced Mon, 31 Aug, 2026 · 19:16 IST
ITC Infotech to acquire 22.1% in Happiest Minds, then merge; lists on BSE/NSE
ITC · price
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Price reaction · full curve 14 horizons · vs prior close
+4.6%1-day move
₹255.50
prior close
₹261.50
base price
After-mkt
timing
5m10m15m30m1D2D3D4D5D7D15D1M2M3M
+1.6+1.2+1.1+0.7+4.6+3.0+3.4+3.1+3.1+1.5+5.6+0.2——
Up moveDown movePending
AI summary
ITC's wholly-owned subsidiary ITC Infotech will buy 22.1% of listed Happiest Minds from promoters for Rs 1,330 cr cash, then merge with it at a 25:81 share swap (implied HMTL value Rs 6,167 cr). ITC Infotech will list on BSE/NSE. Post-merger, ITC holds about 73.4% and HMTL public shareholders 26.6%. Combined entity targets $1B revenue by FY28 with 19,000+ staff. Deal needs CCI, SEBI, NCLT and shareholder approvals, likely closing in around 15 months.
Likely market impact
Strengthens ITC's IT arm with Happiest Minds merger to create a listed IT platform targeting $1B revenue; adds scale, AI capabilities and US presence.