ITC Infotech to acquire 22% stake in Happiest Minds for ₹1,330 crore

ITC Infotech has announced plans to acquire a significant stake in Happiest Minds Technologies, a move that will reshape the Indian IT services landscape. The acquisition of a 22.1% shareholding is valued at ₹1,330 crore, positioning ITC Infotech as a major shareholder in the technology firm.

The combined entity will create a substantial player in India's information technology and business services sector. Post-merger, the consolidated organization is expected to leverage complementary capabilities and client bases to strengthen its competitive position in the domestic and international markets.

Following completion of the acquisition, the merged company plans to pursue a listing on Indian stock exchanges. This public offering will provide liquidity to shareholders and enable the combined entity to access capital markets for future expansion and growth initiatives.

The transaction underscores ITC's strategic focus on building scale and capabilities in the technology services domain. The move aligns with broader industry consolidation trends as established conglomerates seek to strengthen their presence in high-growth IT services segments through targeted acquisitions and mergers.