ITC Limited will participate in two major investor conferences this month, engaging with global analysts and institutional investors.

The company confirmed its attendance at the Jefferies 5th India Forum 2026 and the 11th Annual J.P. Morgan India Conference 2026. These engagements are part of the firm's routine investor relations activities.

Conference Schedule

ITC representatives will hold physical group and one-to-one meetings during both events. The schedule is as follows:

Regulatory Disclosure

The disclosure was made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The notice was issued on September 9, 2026, by R. K. Singhi, Executive Vice President and Company Secretary.

Copies of the intimation were sent to the Securities and Exchange Commission in Washington DC and Societe de la Bourse de Luxembourg.

ITC Limited announced on August 31, 2026 that its wholly owned subsidiary, ITC Infotech India Limited, has approved the acquisition of a 22.106% stake in Happiest Minds Technologies Limited (HMTL). The transaction involves purchasing 3,36,61,700 equity shares from HMTL promoters Mr. Ashok Soota and Ashok Soota Medical Research LLP for approximately ₹1,330 crore in cash.

The acquisition will be funded through a rights issue by ITC Infotech. Following the share purchase, HMTL will amalgamate with ITC Infotech under a scheme of arrangement. The combined entity aims to achieve pro-forma revenue of US$1 billion by FY28.

Transaction Structure and Timeline

The deal proceeds in two primary phases. First, ITC Infotech will acquire the promoter stake in two tranches: 11.00% and 11.106%. Second, HMTL shareholders will exchange their shares for ITC Infotech equity at a swap ratio of 25 shares of ITC Infotech for every 81 shares of HMTL. This ratio implies a value of ₹405 per HMTL share and ₹1,312 per ITC Infotech share.

Post-amalgamation, ITC Limited is expected to hold approximately 73.4% of the combined entity, while existing HMTL shareholders will retain roughly 26.6%. The transaction requires approvals from the Competition Commission of India (CCI), stock exchanges, SEBI, and the National Company Law Tribunal (NCLT). Completion is expected within 15 months, with listing anticipated in Q2-Q3 FY28.

Strategic Rationale

The combination seeks to blend ITC Infotech’s capabilities in cloud, data analytics, and enterprise transformation with HMTL’s strengths in digital product engineering, cybersecurity, and AI. ITC Infotech reported FY26 IT services revenue of ₹4,718 crore with an adjusted EBITDA margin of 18.5%. HMTL reported FY26 revenue of ₹2,315.11 crore, growing from ₹2,060.84 crore in FY25.

Geographically, the merger significantly expands US exposure. While ITC Infotech derives 27% of its revenue from the Americas, HMTL generates approximately 60% from the region. The combined entity projects Americas revenue contribution at 38%. Industry verticals will also diversify, with BFSI rising from 17% to 20%, and new additions in Healthcare (6%) and Hi-Tech/EdTech (12%).

What the Numbers Show

The transaction structure reveals a distinct capital allocation strategy. By funding the ₹1,330 crore cash acquisition entirely through a rights issue rather than internal accruals, ITC Infotech preserves its existing cash position for integration costs or working capital needs. Furthermore, the implied valuation of HMTL at ₹405 per share represents a premium over its recent market trading levels, reflecting the strategic value placed on its US-centric client base and build-led service mix, which currently constitutes 80% of HMTL’s revenues compared to ITC Infotech’s more balanced portfolio.