ITC Infotech Reportedly Eyes 44% Stake in Happiest Minds
ITC Infotech is reportedly moving closer to acquiring a controlling stake of around 44% in Bengaluru-based Happiest Minds Technologies from founder Ashok Soota and promoter entities, in what could become one of the bigger consolidation moves in India's mid-tier IT services market.
Multiple media reports have placed the potential transaction value at around ₹2,800 crore to ₹2,900 crore. Neither ITC Infotech nor Happiest Minds has formally announced a transaction so far.
Earlier reports had suggested a possible two-part structure, with ITC Infotech directly acquiring around 22% of Happiest Minds from the promoters and the remaining promoter holding potentially being part of a separate share-based transaction. A price range of around ₹390–₹400 per share was reported for the direct purchase component.
The final transaction structure, pricing and timelines have not been officially disclosed.
Why Happiest Minds Matters
Founded by IT industry veteran Ashok Soota in 2011, Happiest Minds has built its...
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