SynopsisSeveral analysts said the deal price signalled stagnant revenue growth as a key reason for the union, which provides a backdoor listing for the ITC Group subsidiary. A joint report by PwC and Grant Thornton valued Happiest Minds at Rs 405 a share and ITC Infotech at Rs 1,312 per share.The proposed merger of Happiest Minds Technologies and unlisted ITC Infotech is an example of consolidation driven by artificial intelligence-led revenue compression in the IT services sector, experts said.On Tuesday, Happiest Minds shares closed nearly 11% lower at Rs 362.70 despite opening flat on the BSE, where the IT index gained 1.2% and the broader Sensex ended flat.ITC Infotech is initially acquiring a 22.1% stake in Happiest Minds fromNow Playing
Happiest Minds-ITC Infotech merger driven by AI revenue pressure: Experts - The Economic Times
Several analysts said the deal price signalled stagnant revenue growth as a key reason for the union, which provides a backdoor listing for the ITC Group subsidiary. A joint report by PwC and Grant Thornton valued Happiest Minds at Rs 405 a share and ITC Infotech at Rs 1,312 per share.
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