Happiest Minds Technologies Limited has published mandatory newspaper advertisements regarding its scheme of amalgamation with wholly owned subsidiary Aureustech Systems Private Limited, in compliance with National Company Law Tribunal (NCLT) orders.

Regulatory Compliance and Publication Details

The company published advertisements on March 13, 2026, in Financial Express (English newspaper) and Vishwavani (Regional newspaper) as required under Form No. NCLT 3A. This publication follows the NCLT order dated March 6, 2026, and complies with Regulation 30 read with Para A of Part A Schedule III of SEBI (Listing Obligations and Disclosure Requirements), 2015.

Amalgamation Scheme Structure

The scheme involves the amalgamation of Aureustech Systems Private Limited (Transferor Company) with Happiest Minds Technologies Limited (Transferee Company) and their respective shareholders and creditors. Aureustech Systems is a wholly owned subsidiary of Happiest Minds Technologies.

NCLT Proceedings Timeline

The joint company petition under Sections 230 to 232 of the Companies Act, 2013, was presented on March 6, 2026. The NCLT hearing is scheduled for May 22, 2026, before the Hon'ble National Company Law Tribunal, Bengaluru Bench.

Stakeholder Participation Process

Persons wishing to support or oppose the petition must send written notice to the respective petitioner companies' registered offices. The notice must be signed by the person or their advocate/representative, include name and address, and reach the registered office at least two days before the hearing date. Those opposing must provide grounds for opposition or a copy of their affidavit with the notice.

The company has appointed Praveen Kumar Darshankar as Company Secretary & Compliance Officer (Membership No. F6706) to handle the regulatory compliance aspects of this amalgamation process.

Happiest Minds Technologies has officially announced an upward revision of its growth forecast for FY27, raising the target from 10% to 12.5%. The enhanced projection reflects the company's accelerating progress in its AI First strategy and robust market demand across multiple sectors, as detailed in a regulatory filing under SEBI Regulation 30. The company has also set an ambitious target of 15% growth for FY28.

Growth Forecast Revision

The IT services company has increased its FY27 growth expectations based on strengthening business fundamentals and strategic positioning in emerging technologies. The revision comes after a comprehensive assessment of client feedback, pipeline metrics, and market opportunities.

AI First Strategic Initiative

The upward revision is primarily attributed to the success of the company's AI First initiative, launched as the 11th Strategic Initiative. This represents a strategic elevation that reorients the entire operating model, service delivery architecture, and client engagement philosophy around artificial intelligence as a value-creation mechanism. The initiative builds upon the earlier Generative AI Business Services (GBS), which has matured significantly in both capabilities and client acceptance.

Leadership Commentary

The company's leadership expressed confidence in the strategic direction and growth trajectory. Ashok Soota, Chairman & Chief Mentor, highlighted that the company is "leading from the front with our AI-First strategy, which is already delivering measurable results and driving client transformations at scale."

Joseph Anantharaju, Co-Chairman & CEO, noted witnessing "all-round growth led by rapid acceleration in financial services, healthcare, hi-tech, and manufacturing by robust adoption of AI." Venkatraman Narayanan, Managing Director, emphasized that the forecast "is not aspirational — it is grounded in execution, client trust, and proven delivery."

Market Performance and Outlook

The company is experiencing strong demand across various sectors, indicating broad-based market traction. The diversified demand pattern suggests resilient business fundamentals and effective market positioning across multiple industry verticals. The enhanced growth targets reflect management's confidence in capitalizing on AI-driven opportunities while maintaining strong performance across traditional service offerings.