Ashok Soota sells about 1.11% of his Happiest Minds Shares to fund SKAN and Happiest Health

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Ashok Soota sells about 1.11% of his Happiest Minds Shares to fund SKAN and Happiest Health
Ashok Soota sells about 1.11% of his Happiest Minds Shares to fund SKAN and Happiest Health

On ownership, Mr. Soota plans to maintain his shareholding in Happiest Minds at not less than 40%.

India, September 28, 2023: Mr. Ashok Soota, Promoter and Executive Chairman of Happiest Minds Technologies Limited, today sold about 16.93 lac equity shares of Happiest Minds Technologies Limited, which is about 1.11% of his holding in the company through the NSE and BSE. His holding in the company, which was 51.24%, now stands at 50.13%.

Talking about the transaction, Mr. Ashok Soota said “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”.

This sale is also in line with the strategy of ‘design for perpetuity’ articulated by Mr. Ashok Soota. This hinges on three pillars: ownership, leadership, and business strategy. On ownership, Mr. Soota plans to maintain his shareholding in Happiest Minds at not less than 40%. After this transaction, the shareholding of the promoter was 50.13% in the company.

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