Ashok Soota sells stake to back Happiest Health and SCAN
Ashok Soota, founder of Happiest Minds Technologies, is selling part of his stake to invest in Happiest Health, his healthcare venture, and SCAN, his medical research trust.
This comes right after the company announced its acquisition by ITC Infotech. The combined entity would have revenue of about $740 million as of March 2026.
Merged firm to be 7,000cr 19,000-employee
Soota is selling half of his 44% stake for ₹1,330 crore as part of the deal, so he is not leaving because of worries about AI or tech changes.
The new merged company will be a ₹7,000-crore revenue, 19,000-employee IT company and employ 19,000 people, making it India's 13th-largest IT firm.
ITC Ltd. will own most of it (73.4%), Soota keeps a smaller piece (7.6%), and public investors hold the rest.
Happiest Minds shares would be valued at ₹405 for the swap, implying a value of about ₹1,312 for each ITC Infotech share.
The new team is aiming for $1 billion in revenue by March 2028, pretty ambitious.