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/BSE. His holding in the Company which was 51.24% now stands at 50.13%.
Talking on the transaction, 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 on ‘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 to not less than 40%. After this transaction the shareholding of the promoter at 50.13% in the Company.