Happiest Minds - ITC infotech deal announced as reported by Vivek Iyer on @CNBCTV18News
Ashok Soota to sell 22.106% of Happiest Minds to ITC Infotech for ₹1,329.7 crore.
The promoter of happiest Minds currently holds 44.21%
They sell roughly half of their existing stake for cash and subsequently remain shareholders of the combined listed entity
Happiest Minds will merge into ITC Infotech
ITC Infotech shares will be listed on BSE and NSE following the merger.
Combined entity
The two businesses together start at ₹7,033 crore FY26 revenue
The combined entity is targeting >$1 billion revenue by FY28E.
Management sees ~10% revenue synergies and ~100 bps margin expansion
EPS accretive in the first full year of combined operations.
Post-merger ownership
ITC ~73.4%
Happiest Minds shareholders ~26.6% = promoters: ~7.6% + public shareholders: ~19.0%
#AshokSoota #HappiestMinds #ITCInfotech #CNBCTV18 @VivekIyer72 @ShereenBhan
- Happiest Minds - ITC infotech deal announced as reported by Vivek Iyer on @CNBCTV18News Ashok Soota to sell 22.106% of Happiest Minds to ITC Infotech for ₹1,329.7 crore. The promoter of happiest Minds currently holds 44.21% They sell roughly half of their existing stake for cash and subsequently remain shareholders of the combined listed entity Happiest Minds will merge into ITC Infotech ITC Infotech shares will be listed on BSE and NSE following the merger. Combined entity The two businesses together start at ₹7,033 crore FY26 revenue The combined entity is targeting >$1 billion revenue by FY28E. Management sees ~10% revenue synergies and ~100 bps margin expansion EPS accretive in the first full year of combined operations. Post-merger ownership ITC ~73.4% Happiest Minds shareholders ~26.6% = promoters: ~7.6% + public shareholders: ~19.0% #AshokSoota #HappiestMinds #ITCInfotech #CNBCTV18 @VivekIyer72 @ShereenBhan
Value unlocking for ITC shareholders possibly
Anything for ITC shareholders in this deal ??
