Archive · 2 Sep 2026
Soota to Sell Rs 1,330-Crore Happiest Minds Stake
Ashok Soota is selling part of the technology company he founded, Happiest Minds Technologies.
ITC Infotech will buy the 22.1% stake for about Rs 1,330 crore.
Soota plans to use the money for medical research and healthcare projects.
His research trust, SKAN, is developing a large new campus.
The campus is expected to cost about Rs 350 crore.
His health platform, Happiest Health, also plans to build hospitals.
The stake purchase is part of a proposed merger between ITC Infotech and Happiest Minds.
The combined company hopes to earn USD 1 billion by FY28.
After the merger, Soota is expected to remain a minority shareholder.
Ashok Soota will sell a 22.1% Happiest Minds Technologies stake to ITC Infotech for about Rs 1,330 crore.
The proceeds will support SKAN medical research and Happiest Health’s expansion into physical hospitals.
SKAN plans a 2-lakh-square-foot campus facility estimated to cost Rs 350 crore.
Happiest Health is expected to require Rs 300-400 crore to establish hospitals.
The transaction supports a proposed merger targeting a USD 1 billion AI-first enterprise by FY28.
- Who
- Ashok Soota, Happiest Minds Technologies, ITC Infotech and ITC Limited are the main parties.
- What
- ITC Infotech will acquire 22.1% of Happiest Minds Technologies from Ashok Soota and Ashok Soota Medical Research LLP for about Rs 1,330 crore.
- When
- The proposed merger is expected to take around 15 months, with a revenue target set for FY28.
- Why
- Soota is raising funds for SKAN and Happiest Health, while the stake purchase supports a proposed merger between ITC Infotech and Happiest Minds Technologies.
- Stake being sold
- 22.1% of Happiest Minds Technologies
- Transaction value
- About Rs 1,330 crore
- Buyer
- ITC Infotech, a wholly owned subsidiary of ITC Limited
- Shares involved
- 3,36,61,700 shares
- Purchase terms
- The shares will be acquired in two tranches at Rs 390 and Rs 400 per share
- SKAN campus investment
- An estimated Rs 350 crore for a 2-lakh-square-foot facility
- Post-merger ownership
- ITC Limited is expected to hold 73.4% of the combined entity, existing Happiest Minds shareholders 26.6%, and Soota 7.55%
