| <p>Happiest Minds Technologies Limited is merging with ITC Infotech India Limited, a move detailed in filings including Annexures A, B, and C. Under the scheme of amalgamation, Happiest Minds shareholders will receive 25 shares of ITC Infotech for every 81 shares they currently hold, a ratio determined by valuation reports from PwC Business Consulting Services LLP and GT Valuation Advisors Private Limited and assessed as fair by ICICI Securities Limited. The merger, which will see Happiest Minds (the transferor company) absorbed by ITC Infotech (the transferee company), aims to create a larger digital solutions provider, though it requires regulatory approvals and presents integration challenges. Notably, key Happiest Minds promoters, Ashok Soota and Ashok Soota Medical Research LLP, are parties to the merger framework agreement, necessitating transparency and oversight.</p> |