- Happiest Minds Technologies Limited (NSE: HAPPSTMNDS / BSE: 543227, 975101) will merge with ITC Infotech India Limited in a share‑swap: holders of 81 Happiest Minds shares receive 25 ITC Infotech shares.
- ITC Infotech will buy a ~22.1 % minority stake in Happiest Minds for ₹1,330 cr (≈₹395 per share), leaving ITC Limited with a ~73.4 % holding in the combined entity.
- The merged company targets US$ 1 billion in annual revenue by FY 2028, with pro‑forma FY 2026 revenue of about ₹7,033.1 cr, a workforce of over 19,000 professionals and more than 8,001 customers across 30+ countries.
- Geographic exposure will be anchored by ~38 % of revenue from North America and ~31 % from Europe, and the deal is expected to close within 15 months, subject to statutory, shareholder and regulator approvals.
The merger is expected to lift Happiest Minds’ share price modestly as investors see scale and revenue upside, but the impact may be tempered by integration risk and high promoter ownership. Confidence is moderate given mixed precedents in the Indian IT sector.
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Forecast from comparable, historic events. Not investment advice.
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