ITC Ltd Infotech Happiest Minds deal will acquire a 22.1%

IT services unit ITC Infotech announced on Monday it will acquire a 22.1% promoter stake in Happiest Minds Technologies in two stages, to be followed by a full merger of Happiest Minds into ITC Infotech. After the merger, the combined entity would list on the stock exchanges, with ITC holding approximately 73.4% of the merged company. ITC shares jumped over 4% on 1 September, touching an intraday high near ₹267.50, as one of the top Nifty 50 ***** move signals ITC's ambition to scale its IT and digital services business Delhi High Court stayed FSSAI's decision to cancel ITC's licence over its "100%" claims on some products, providing some relief on the regulatory front. The demerged ITC Hotels business is scheduled to meet institutional investors and analysts on 2 September 2026 at the Ashwamedh–Elara India Dialogue in Mumbai.