Summary
ITC's wholly-owned arm announced the acquisition of a 22.1% stake in Happiest Minds Technologies from founder Ashok Soota for ₹1,330 crore, setting the stage for a merger. The merger will result in Happiest Minds shareholders receiving 25 ITC Infotech shares for every 81 Happiest Minds shares they own, creating ITC's third listed firm and a larger IT play.
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