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The latest announcement is out from IRIS Business Services Ltd. ( (IN:IRIS) ).
IRIS Business Services Limited has announced the sale and transfer of its GST ASP Services Business and 100% equity stake in its subsidiary, IRIS Logix Solutions Private Limited, to Sovos Compliance Limited for Rs 151.24 crore. This strategic move involves several steps, including acquiring a minority stake in IRIS Logix, transferring the GST ASP Services Business to IRIS Logix, and ultimately selling the entire stake to Sovos, which may impact the company’s market positioning and operational focus.
More about IRIS Business Services Ltd.
IRIS Business Services Limited operates in the financial technology industry, primarily providing services as a GST Application Service Provider (ASP). The company focuses on solutions related to eWay bill generation and compliance services through its subsidiary, IRIS Logix Solutions Private Limited.
Average Trading Volume: 6,787
Current Market Cap: 6.54B INR
For an in-depth examination of IRIS stock, go to TipRanks’ Overview page.