BENGALURU: Happiest Minds Technologies Limited promoter and executive Chairman Ashok Soota on Thursday sold about 16.93 lakh equity shares of Happiest Minds, about 1.11% of his holding in the company through the NSE and the BSE.
His stake came down from 51.24% in the company to 50.13%. This transaction was primarily done to fund the capital requirements of SKAN, the not-for-profit medical research firm, floated by him and enhance the share capital of Happiest Health. Headquartered in Bengaluru, Happiest Minds has operations in the US, UK, Canada, Australia, and the Middle East.
The IT company’s first quarter net profit stood at Rs 58.33 crore. The company has set a goal of achieving $1 billion by 2031. The company reported revenues at Rs 390.87 crore for the June quarter, and its total income stood at Rs 404.53 crore. In July, the company completed a Rs 500 crore ($61 million) capital raise through a Qualified Institutions Placement (QIP) of equity shares.