Happiest Minds shares fell as much as 12.2% after ITC announced plans for ITC Infotech to acquire a 22.1% stake and merge with the IT services provider.

Shares of India's Happiest Minds

fell as much ​as 12.2% on Tuesday after Indian

conglomerate ITC unveiled plans ‌to buy a large stake

and merge its ​unit with the IT services provider, fueling