{
  "id": 4658549,
  "title": "ITC Infotech to acquire 22.1% stake in Happiest Minds for Rs 1,330 crore; firms to merge",
  "url": "https://urgent.news/2026/08/31/itc-infotech-to-acquire-22-1-stake-in-happiest-minds-for-rs-1-330",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-08-31T14:32:19.000Z",
  "source": {
    "name": "Economic Times Tech",
    "slug": "economic-times-tech",
    "url": "https://economictimes.indiatimes.com/tech/information-tech/itc-infotech-to-acquire-22-1-stake-in-happiest-minds-for-rs-1330-crore-firms-to-merge/articleshow/133655977.cms"
  },
  "original_language": "en",
  "account": "ITC Ltd's wholly-owned subsidiary, ITC Infotech, has agreed to acquire a 22.1% stake in Bengaluru-based software services firm Happiest Minds Technologies for Rs 1,330 crore in a major consolidation move within India's IT industry. The acquisition, which will result in a backdoor listing of ITC Infotech, will lead to a merger through a share swap, creating an AI-first enterprise with over 19,000 employees. The combined entity aims to achieve $1 billion in revenue by FY28. ITC Infotech will own a 73.4% stake in the merged company, while Happiest Minds' founder and promoter, Ashok Soota, will retain a 7.6%. The transaction is expected to be completed within 15 months, subject to regulatory approvals.",
  "summary": "The acquisition of 3,36,61,700 equity shares will be made from Happiest Minds' promoter Ashok Soota and Ashok Soota Medical Research LLP in two tranches, ITC said in a regulatory filing.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}