{ "story_id": "7b345824bbdfdc955bca5f775ec0e62a", "desk": "drm3", "revision": 1, "published_at": "2026-09-02T06:39:38.000Z", "content_hash": "b9ffd0e5f78bc0eb41ec4f5bfdb8855907dc196900985870ce1e6069a6f286e9", "hash_basis": "sha256 over `headline\\ndek\\nprose`, plus `\\n` + the canonical citations JSON when any source is placed, plus `\\n#blog` for blogs", "basis": { "headline": "Happiest Minds-ITC Infotech merger to be valued at ₹18,000 crore upon listing", "dek": "Happiest Minds and ITC Infotech merger valued at ₹18,000 crore, with ITC Infotech acquiring 22.1% stake from promoter Ashok Soota.", "prose": "An independent enterprise valuation report jointly prepared by PwC and Grant Thornton valued the combined Happiest Minds-ITC Infotech entity at ₹18,000 crore upon listing, with ITC Infotech at ₹12,000 crore and Happiest Minds at ₹6,167 crore. [^1]\n\nHappiest Minds Technologies signed a definitive agreement on 2026-08-31 to combine with ITC Infotech India Limited to create an AI-first global technology services enterprise with annual revenue of ₹8,000 crore by FY 2028. [^2]\n\nITC Infotech, a wholly owned subsidiary of ITC Limited, declared on Monday that its Board of Directors approved the acquisition of 22.106% of the equity share capital of Happiest Minds Technologies Limited from promoter Mr. Ashok Soota. [^3]\n\nITC Infotech will acquire a 22.1% minority stake in Happiest Minds from the promoter and promoter entities in two tranches for a total consideration of ₹1,330 crore at an average price of ₹395 per share. [^4]\n\nThe executives said post-merger ITC Limited would hold 74% and Happiest Minds shareholders collectively 26% of the new entity, a structure chosen to comply with SEBI's Minimum Public Shareholding rule requiring at least 25% public float. [^5]\n\nITC Limited shares have lost over 35% of their value in the past year and shed over 25% year-to-date. [^6]\n\nThe proposed transaction involves the amalgamation of Happiest Minds Technologies Limited into ITC Infotech, where ITC Infotech will issue new shares for every 81 shares held by HMTL shareholders. [^7]\n\nITC Infotech shares are proposed to be listed on the Bombay Stock Exchange Limited and the National Stock Exchange of India Limited. [^8]", "cited": "[{\"statement\":\"An independent enterprise valuation report jointly prepared by PwC and Grant Thornton valued the combined Happiest Minds-ITC Infotech entity at ₹18,000 crore upon listing, with ITC Infotech at ₹12,000 crore and Happiest Minds at ₹6,167 crore.\",\"source\":\"The Hindu\",\"instrument\":\"News\",\"claim_key\":null,\"published_at\":\"2026-09-02T06:39:38.000Z\",\"publisher_count\":1,\"sources\":[\"The Hindu\"]},{\"statement\":\"Happiest Minds Technologies signed a definitive agreement on 2026-08-31 to combine with ITC Infotech India Limited to create an AI-first global technology services enterprise with annual revenue of ₹8,000 crore by FY 2028.\",\"source\":\"The Hindu\",\"instrument\":\"News\",\"claim_key\":null,\"published_at\":\"2026-09-02T06:39:38.000Z\",\"publisher_count\":1,\"sources\":[\"The Hindu\"]},{\"statement\":\"ITC Infotech, a wholly owned subsidiary of ITC Limited, declared on Monday that its Board of Directors approved the acquisition of 22.106% of the equity share capital of Happiest Minds Technologies Limited from promoter Mr. Ashok Soota.\",\"source\":\"mint\",\"instrument\":\"News\",\"claim_key\":null,\"published_at\":\"2026-09-01T04:16:37.000Z\",\"publisher_count\":1,\"sources\":[\"mint\"]},{\"statement\":\"ITC Infotech will acquire a 22.1% minority stake in Happiest Minds from the promoter and promoter entities in two tranches for a total consideration of ₹1,330 crore at an average price of ₹395 per share.\",\"source\":\"The Hindu\",\"instrument\":\"News\",\"claim_key\":null,\"published_at\":\"2026-09-02T06:39:38.000Z\",\"publisher_count\":1,\"sources\":[\"The Hindu\"]},{\"statement\":\"The executives said post-merger ITC Limited would hold 74% and Happiest Minds shareholders collectively 26% of the new entity, a structure chosen to comply with SEBI's Minimum Public Shareholding rule requiring at least 25% public float.\",\"source\":\"The Hindu\",\"instrument\":\"News\",\"claim_key\":null,\"published_at\":\"2026-09-02T06:39:38.000Z\",\"publisher_count\":1,\"sources\":[\"The Hindu\"]},{\"statement\":\"ITC Limited shares have lost over 35% of their value in the past year and shed over 25% year-to-date.\",\"source\":\"mint\",\"instrument\":\"News\",\"claim_key\":null,\"published_at\":\"2026-09-01T04:16:37.000Z\",\"publisher_count\":1,\"sources\":[\"mint\"]},{\"statement\":\"The proposed transaction involves the amalgamation of Happiest Minds Technologies Limited into ITC Infotech, where ITC Infotech will issue new shares for every 81 shares held by HMTL shareholders.\",\"source\":\"mint\",\"instrument\":\"News\",\"claim_key\":null,\"published_at\":\"2026-09-01T04:16:37.000Z\",\"publisher_count\":1,\"sources\":[\"mint\"]},{\"statement\":\"ITC Infotech shares are proposed to be listed on the Bombay Stock Exchange Limited and the National Stock Exchange of India Limited.\",\"source\":\"mint\",\"instrument\":\"News\",\"claim_key\":null,\"published_at\":\"2026-09-01T04:16:37.000Z\",\"publisher_count\":1,\"sources\":[\"mint\"]}]", "kind": "news" }, "receipt_verify": "Ed25519 over the dot-joined string `slice_hash.cursor_from.cursor_to.view.view_version.row_count`; public_key and sig are base64url of the raw 32-byte key / 64-byte signature", "receipt": null, "receipt_note": "this revision predates receipt-keeping (before v0.37.0); the filed row lives in the record", "generation_chain": { "wire": { "stream": "fountain_news", "story_id": "b5d3a007232dcbf0dde68c0ec18886c7", "thread_id": "d1afa7f425c2a64ab45326a8285c9765", "thread_label": "Happiest Minds Technologies Limited", "novelty": "UPDATE", "content_hash": "17ca376b03eb857a9a332f4e950f0ffeaaeec6cb4396307b3c2a06c4644234ca", "last_published_at": "2026-09-02T06:39:38.000Z", "read_receipt": { "slice_hash": "fdbe15dbba5bf8a3ae99e41799d1cbdf1fe1b1c03df93de62a39e65e12900917", "cursor_from": "eyJ0cyI6IjIwMjYtMDktMDJUMDU6NTY6MTEuMDAwMDAwWiIsImlkIjoiOTM2OWUyMWM3Y2M0OTBkMmQ4NmMwMGJiNWI2OWJjZDEiLCJ2IjoiMSJ9", "cursor_to": "eyJ0cyI6IjIwMjYtMDktMDJUMDY6NDY6NTIuMDAwMDAwWiIsImlkIjoiMWFmYjlhNThjYWIzZjJmNGNkN2I3YTRiZmQ3Y2YwOGYiLCJ2IjoiMSJ9", "view": "v_fountain_news", "view_version": "1", "row_count": 100, "window_days": 3, "bytes_scanned": 12017721, "credits": 8, "price_per_100_rows": 8, "sig": "GNqRb3To2yNLV4kxZkNTRZYUUKYyrMwV4fyFSa-xtHNt0FuAaGFqiMQ6RUYhuDvKUD-i1stwTcUHNbuLaqwKDQ", "public_key": "bMUigy8O0jOnBxQ4Sc-5lwhIZ8LQVAhxMbR7qESVuUE", "signer_path": "lakehouse/data-extract/v1", "alg": "Ed25519", "signed": true } }, "written_at": "2026-09-02T22:41:04.469Z" }, "cited_facts": [ { "statement": "An independent enterprise valuation report jointly prepared by PwC and Grant Thornton valued the combined Happiest Minds-ITC Infotech entity at ₹18,000 crore upon listing, with ITC Infotech at ₹12,000 crore and Happiest Minds at ₹6,167 crore.", "source": "The Hindu", "instrument": "News", "claim_key": null, "published_at": "2026-09-02T06:39:38.000Z", "publisher_count": 1, "sources": [ "The Hindu" ] }, { "statement": "Happiest Minds Technologies signed a definitive agreement on 2026-08-31 to combine with ITC Infotech India Limited to create an AI-first global technology services enterprise with annual revenue of ₹8,000 crore by FY 2028.", "source": "The Hindu", "instrument": "News", "claim_key": null, "published_at": "2026-09-02T06:39:38.000Z", "publisher_count": 1, "sources": [ "The Hindu" ] }, { "statement": "ITC Infotech, a wholly owned subsidiary of ITC Limited, declared on Monday that its Board of Directors approved the acquisition of 22.106% of the equity share capital of Happiest Minds Technologies Limited from promoter Mr. Ashok Soota.", "source": "mint", "instrument": "News", "claim_key": null, "published_at": "2026-09-01T04:16:37.000Z", "publisher_count": 1, "sources": [ "mint" ] }, { "statement": "ITC Infotech will acquire a 22.1% minority stake in Happiest Minds from the promoter and promoter entities in two tranches for a total consideration of ₹1,330 crore at an average price of ₹395 per share.", "source": "The Hindu", "instrument": "News", "claim_key": null, "published_at": "2026-09-02T06:39:38.000Z", "publisher_count": 1, "sources": [ "The Hindu" ] }, { "statement": "The executives said post-merger ITC Limited would hold 74% and Happiest Minds shareholders collectively 26% of the new entity, a structure chosen to comply with SEBI's Minimum Public Shareholding rule requiring at least 25% public float.", "source": "The Hindu", "instrument": "News", "claim_key": null, "published_at": "2026-09-02T06:39:38.000Z", "publisher_count": 1, "sources": [ "The Hindu" ] }, { "statement": "ITC Limited shares have lost over 35% of their value in the past year and shed over 25% year-to-date.", "source": "mint", "instrument": "News", "claim_key": null, "published_at": "2026-09-01T04:16:37.000Z", "publisher_count": 1, "sources": [ "mint" ] }, { "statement": "The proposed transaction involves the amalgamation of Happiest Minds Technologies Limited into ITC Infotech, where ITC Infotech will issue new shares for every 81 shares held by HMTL shareholders.", "source": "mint", "instrument": "News", "claim_key": null, "published_at": "2026-09-01T04:16:37.000Z", "publisher_count": 1, "sources": [ "mint" ] }, { "statement": "ITC Infotech shares are proposed to be listed on the Bombay Stock Exchange Limited and the National Stock Exchange of India Limited.", "source": "mint", "instrument": "News", "claim_key": null, "published_at": "2026-09-01T04:16:37.000Z", "publisher_count": 1, "sources": [ "mint" ] } ], "note": "A signature proves who filed this and that it has not changed since. It never makes a claim true." }