Get All Access for $5/mo

Ashok Soota Sells 6% Stake in Happiest Minds Technologies Worth INR 762 Crore Happiest Minds Technologies' founder, Ashok Soota, has sold stake in his company worth INR 762 crore.

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

Ashok Soota on LinkedIn

Ashok Soota, the founder of Happiest Minds Technologies Ltd., sold a substantial stake in the company he established. Through open market transactions on Tuesday, Soota divested shares worth INR 762 crore, with buyers including Mansi Share and Stock Advisors and PRB Securities. According to BSE bulk deal data, Soota sold a 6 per cent stake in the firm at a price of INR 834.87 per share. As of March, Soota held a 38.34 per cent stake in the company. Mansi Share and Stock Advisors purchased 930,000 shares at INR 837.57 each, while PRB Securities acquired a 0.59 per cent stake at INR 843.6 per share.

In a BSE filing, the company stated, "This is to inform you that I, Mr. Ashok Soota, Promoter of Happiest Minds Technologies have sold 91,36,490 equity shares (6 per cent) in the open market through bulk deal on June 25, 2024."

For the quarter ending in March, Happiest Minds Technologies reported a net profit increase of 24.83 per cent year-on-year, reaching INR 71.98 crore, as per NDTV Profit. The company is optimistic about the growth potential of its newly launched generative artificial intelligence business unit. Despite these positive developments, the stock has declined 10.8 per cent over the past year and 5 per cent year-to-date. On Tuesday, shares of Happiest Minds Technologies closed 9.53 per cent lower at INR 829.90 each, against a 0.79 per cent rise in the NSE Nifty 50 index.

Business News

These Companies Offer the Best Work-Life Balance, According to Employees

The ranking is based on Glassdoor ratings and reviews.

Business News

Apple Is Adding ChatGPT to iPhones This Week. Here's How It Works.

ChatGPT will take over questions that Siri can't answer.

Growing a Business

How to Spot Trends and Anticipate Market Shifts Before Your Competition

Discover how to identify disruptive trends before your competitors by mastering the art of anticipating market shifts. Learn strategies for staying ahead and gaining a competitive edge in business.

Leadership

As a Leader, Take These 5 Steps to Bridge the Gap Between Innovation and Execution

Companies that want to turn ideas into action must align their people and listen to their customers.

Growing a Business

Why Business Owners Should Streamline Their Operations Now for Success in 2025

As the holiday season and year-end approach, business owners face heightened operational demands, from inventory management to spend control. By streamlining these processes and partnering with flexible suppliers, businesses can maintain efficiency, meet customer needs and focus on growth while navigating this busy period.