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The latest announcement is out from IRIS Business Services Ltd. ( (IN:IRIS) ).
IRIS Business Services Ltd. has announced the sale and transfer of its GST ASP Services Business and its 100% equity stake in IRIS Logix Solutions Private Limited to Sovos Compliance Limited for Rs 151.24 crore. This strategic move involves acquiring the remaining 48.99% stake in IRIS Logix to make it a wholly owned subsidiary before selling it to Sovos, indicating a significant shift in IRIS’s business focus and potentially impacting its market positioning.
More about IRIS Business Services Ltd.
IRIS Business Services Ltd. operates in the technology sector, providing services as a GST Application Service Provider (ASP) and is involved in eWay bill generation services through its subsidiary IRIS Logix Solutions Private Limited.
Average Trading Volume: 6,787
Current Market Cap: 6.54B INR
Learn more about IRIS stock on TipRanks’ Stock Analysis page.