ITC shares jump 5% after Happiest Minds merger deal
- ITC shares rose 5% after ITC Infotech announced a merger deal with Bengaluru-based Happiest Minds Technologies.
- ITC Infotech will buy a 22.1% stake from founder Ashok Soota for Rs 1,330 crore under the agreement.
- After the merger, ITC will own 73.4% of the combined entity, while Happiest Minds shareholders retain 19%.
- The deal will give ITC Infotech a listed presence and strengthen its position in the technology services sector.
Source: economictimes.indiatimes.com
Get 100 stories a day on the app
Read, watch & listen · Free on iOS & Android
