Corporate News
Happiest Minds Technologies Limited is set to merge with ITC Infotech India Limited, a transaction that will see Happiest Minds cease to exist as a separate entity. The amalgamation, detailed in a Scheme of Amalgamation and Merger Framework Agreement, involves an exchange ratio of 25 shares of ITC Infotech for every 81 shares of Happiest Minds. The valuation for the merger was conducted by PwC Business Consulting Services LLP and GT Valuation Advisors Private Limited on August 31, 2026, with ICICI Securities Limited providing a fairness opinion. Promoters Ashok Soota and Ashok Soota Medical Research LLP are involved in the transaction, which is considered a related party transaction. The merger aims to create a larger, more competitive entity with operational synergies and increased growth opportunities, pending regulatory approvals and shareholder approval.