ITC Share Price Gains Over 3%, Happiest Minds Falls Over 11% as ITC Infotech To Acquire 22.106% Stake for ₹1,330 Crore

On August 31, 2026, ITC Infotech, a wholly owned subsidiary of ITC, announced its decision to acquire a 22.106% stake in Happiest Minds Technologies Limited for ₹1,330 crore, as per the exchange filings.  

This strategic move will be followed by the amalgamation of the two companies, creating a future-ready, AI-first global technology services enterprise. 

Details of the Acquisition 

ITC Infotech plans to acquire 3,36,61,700 equity shares from promoter Mr. Ashok Soota and his medical research LLP.  

The acquisition will be executed in 2 tranches, priced at ₹390 and ₹400 per share. The transaction will be funded through a rights issue of ₹1,330 crore from ITC Limited. 

Amalgamation and Listing Plans 

Upon the effectiveness of the amalgamation, Happiest Minds will merge completely into ITC Infotech. Shareholders will receive 25 fully paid-up shares of ₹10 each of ITC Infotech for every 81 shares of ₹2 held.  

The combined entity will be listed on both BSE Limited and the National Stock Exchange of India. Post-merger, ITC will hold 73.4% ownership, with public shareholders holding 26.6%. 

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Financial Performance of the Companies 

Happiest Minds reported a consolidated turnover of ₹2,315.11 crore for the financial year 2025-26, with previous turnovers of ₹2,060.84 crore and ₹1,624.66 crore for 2024-25 and 2023-24 respectively.  

ITC Infotech achieved information technology services revenue of ₹4,718 crore and an adjusted profit after tax of ₹510 crore during the financial year 2025-26. 

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Strategic Rationale Behind the Combination 

The strategic combination aims to create a platform targeting a US$ 1 billion scale by fiscal year 2028. It will expand the presence in the Americas and deepen key verticals like banking and financial services.  

The deal combines ITC Infotech's expertise in cloud and enterprise solutions with Happiest Minds' strengths in digital product engineering, cybersecurity, and AI capabilities. 

ITC Share Price Performance 

As of September 01, 2026, at 11:33 AM, ITC share price on NSE was trading at ₹264.50, up by 3.52% from the previous closing price. 

Happiest Minds Technologies Share Price Performance 

As of September 01, 2026, at 11:34 AM, Happiest Minds Technologies share price on NSE was trading at ₹359.35 down by 11.70% from the previous closing price. 

Conclusion 

ITC Infotech's acquisition of a 22.106% stake in Happiest Minds for ₹1,330 crore, followed by a merger, aims to create a global technology services enterprise. The transaction involves a rights issue and will result in ITC holding 73.4% of the merged entity. 

Disclaimer: This blog has been written exclusively for educational purposes. The securities or companies mentioned are only examples and not recommendations. This does not constitute a personal recommendation or investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

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