IRIS Business Services Limited has submitted the Exchange a copy Srutinizer's report of Extraordinary General Meeting held on July 26, 2025
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IRIS Business Services Limited held an Extra-Ordinary General Meeting on July 26, 2025, where shareholders voted on a related party transaction to transfer the company's GST ASP Services Business to IRIS Logix Solutions Private Limited. The resolution was passed with 100% approval, with all 48,36,546 valid votes (cast by 98 members) in favour and zero against. However, only about 23.55% of the total outstanding shares (2,05,38,117) participated in the voting. Promoters voted 96.14% of their holding, while public non-institutions voted about 23.18% of their shares. The promoter/promoter group is interested in this resolution, as it involves a related party transaction.
The resolution has been approved by shareholders, clearing the way for the company to transfer its GST ASP Services Business to IRIS Logix Solutions Private Limited, a related party. While the unanimous vote among those who participated is positive, the relatively low voting turnout (~23.55%) means minority shareholders should monitor the terms and valuation of this business transfer closely, as related party transactions can sometimes be value-dilutive.