BOM:543227

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HDFC Securities Downgrades Happiest Minds Technologies to Add from Buy; Price Target is INR400

Happiest Minds Technologies (BOM:543227, NSE:HAPPSTMNDS) has an average rating of overweight and mean price target of 448.29 Indian rupees, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)

BOM:543227NSE:HAPPSTMNDS

Asia1d ago

Happiest Minds Technologies, ITC Unit Agree to Merge

Happiest Minds Technologies (NSE:HAPPSTMNDS, BOM:543227) agreed to combine its business with ITC (NSE:ITC, BOM:500875) unit ITC Infotech India, subject to the relevant approvals.The combined AI First global technology services enterprise will target an annual revenue of $1 billion by fiscal year 2028, according to a Tuesday Indian bourse filing.ITC Infotech India will acquire a 22.1% stake in Happiest Minds from the company's promoters.The merger will then take place through a share swap, where shareholders of Happiest Minds will receive 25 ITC Infotech shares for every 81 Happiest Minds shares they own.The merged company, in which ITC will own about 73.4% stake, will have over 19,000 employees, serve more than 800 customers, and have operations across more than 301 countries.

BOM:500875BOM:543227NSE:HAPPSTMNDSNSE:ITC

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