01 Sep 2026
ITC Infotech will buy 22.1 percent of Happiest Minds for about 1,330 crore rupees, then absorb the company entirely.
The stake comes from founder Ashok Soota and Ashok Soota Medical Research LLP in two tranches, after which Happiest Minds amalgamates into ITC Infotech. ITC ends up holding 73.4 percent of the merged entity and Happiest Minds shareholders hold 26.6 percent. The combined business carries more than 19,000 employees and targets one billion dollars of revenue by FY28. ITC Infotech is proposed for listing on the BSE and NSE, which is how Happiest Minds shareholders retain a traded holding. ITC separately filed to amalgamate Blazeclan Technologies and Cloudlytics into ITC Infotech on the same day.