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IRIS Business Services Ltd. ( (IN:IRIS) ) has shared an announcement.
IRIS Business Services Ltd. has announced the divestment of its entire stake in its subsidiary, IRIS Logix Solutions Private Limited, to Sovos Compliance Limited, UK, for Rs 151.24 crore. This strategic move involves several steps, including acquiring a minority stake to make IRIS Logix a wholly owned subsidiary before the sale, and transferring the GST ASP Services Business to IRIS Logix before finalizing the sale to Sovos. The transaction is expected to streamline IRIS’s operations and potentially enhance its market positioning by focusing on core business areas.
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
See more data about IRIS stock on TipRanks’ Stock Analysis page.