Cyril Amarchand Mangaldas has advised ITC Infotech India Limited, a wholly owned subsidiary of ITC Limited, on its acquisition of 3,36,61,700 equity shares of Happiest Minds Technologies Limited, representing 22.106% of its equity share capital, from its promoter / promoter group, in two tranches and amalgamation of Happiest Minds Technologies Limited with and into ITC Infotech India Limited. Upon the proposed amalgamation being effected, the shares of ITC Infotech are proposed to be listed on BSE Limited and the National Stock Exchange of India Limited. The transaction is subject to regulatory approvals and shareholder and creditor approvals will be sought for the amalgamation.
The transaction was led by Ramgovind Kuruppath, Partner – (Co-head – General Corporate); and Megha Krishnamurthi, Partner; with support from Nikita Singhi, Principal Associate; Varnika Pasricha, Tanya Mahajan and Arya Alexander, Associates.
Dhruv Rajain, Partner; with support from Rajat Sharma, Principal Associate; Kartik Mishra and Shruti Avinash, Associates; advised on competition aspects of the transaction.
Megha Krishnamurthi, Partner; with support from Nikita Singhi, Principal Associate; Rahil Mehta, Varnika Pasricha, Lokesh Soni, Arya Alexander and Janya Navnitlal, Associates; assisted in due diligence aspects.
Arun Prabhu, Partner – (Co-Head – Digital | TMT); and Arpita Sengupta, Partner; with support from Vasundhara Majithia, Consultant; and Shikhar Sharma, Associate; advised on TMT aspects of the transaction.
Bishen Jeswant and Krithika Radhakrishnan, Partners; with support from Akash Mishra, Principal Associate; Shivika Gupta and Abhilash Tyagi, Senior Associates; Jeevana Vuppu, Vineet Mishra and Harshit Chauhan, Associates; advised on the employment aspects.
