IRIS Business Services Limited has informed the Exchange about the completion of sale of 5% equity stake in IRIS Logix Solutions Private Limited.
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 Limited has completed the sale and transfer of its 5% equity stake in IRIS Logix Solutions Private Limited to Sovos Compliance Limited, United Kingdom. This transaction is part of a previously disclosed multi-step restructuring involving the divestment of the company's GST ASP Services Business into IRIS Logix. Prior to this sale, IRIS had acquired 48.99% stake in IRIS Logix from Logistics Fund India LLP, the minority JV partner, consolidating its holding before transferring a 5% stake to global compliance major Sovos. The definitive agreements for this transaction were approved by the Board on July 02, 2025.
This restructuring effectively turns the GST ASP Services business into a joint venture with international compliance leader Sovos, which may bring global scale and expertise but also means IRIS shareholders now have a diluted, indirect economic interest in this segment. The move could refocus the listed entity on its core regtech business while monetizing part of its GST ASP holdings.