Iris Business Services Limited has informed the Exchange about General Updates
IRIS · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
IRIS Business Services has completed the sale of its remaining 95% stake in subsidiary IRIS Logix Solutions to UK-based Sovos Compliance Limited, finalising a transaction first approved on July 2, 2025. The deal was the last step in a multi-stage process that included buying out the minority JV partner's 48.99% stake, transferring a 5% stake to Sovos, receiving Sovos's investment via compulsorily convertible debentures, and shifting the company's entire GST ASP Services Business to IRIS Logix on a slump sale basis. Effectively, IRIS has fully exited its GST ASP Services business, with Sovos now owning IRIS Logix.
This is a significant divestment — IRIS has monetised and exited its GST ASP Services vertical, likely boosting near-term cash but reducing future revenue from that segment. Shareholders should expect a cleaner, more focused company going forward, though the full financial impact depends on the deal value already disclosed earlier.