Happiest Minds Technologies soars on executing Share Purchase Agreements with Gavs Technologies
Happiest Minds Technologies is currently trading at Rs. 716.05, up by 20.35 points or 2.93% from its previous closing of Rs. 695.70 on the BSE.
The scrip opened at Rs. 699.00 and has touched a high and low of Rs. 718.45 and Rs. 699.00 respectively. So far 4319 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 955.00 on 21-Jun-2024 and a 52 week low of Rs. 666.00 on 28-Jan-2025.
Last one week high and low of the scrip stood at Rs. 718.45 and Rs. 666.00 respectively. The current market cap of the company is Rs. 10593.76 crore.
The promoters holding in the company stood at 44.22%, while Institutions and Non-Institutions held 11.25% and 44.53% respectively.
Happiest Minds Technologies has executed Share Purchase Agreements with Gavs Technologies to acquire 100% of business interest of their Middle East business by acquiring viz., InnovazIT Technologies LLC, Dubai; Gavs Technologies LLC, Oman and Gavs Technologies Saudi Arabia for Telecommunications and Information Technology, Saudi Arabia, in accordance with the terms and conditions detailed in the Agreements.
The intention of this transaction is to acquire and consolidate existing customer relations, contracts along with a delivery team and consolidate company’s business presence in the Middle East. The acquisition is expected to be completed by March 15, 2025.
