IRIS Shares Jump 5% as Board Approves ₹151.24 Cr Business Sale to Sovos
By Shishta Dutta | Updated at: Oct 15, 2025 03:28 PM IST
Mumbai, July 3, 2025 – IRIS Business Services Ltd (NSE: IRIS) surged 4.99%, as of 11:06 a.m., after its Board approved the divestment of its entire GST ASP services business. The company is also to transfer 100% equity in its subsidiary, IRIS Logix Solutions, to Sovos Compliance Ltd, UK.
The deal to divest IRIS Logix Solutions amounts to ₹151.24 crore and will be completed in four steps. The company will first acquire 48.99% of IRIS Logix held by the minority JV partner and make it a wholly owned subsidiary, before selling the GST ASP Business to IRIS Logix, followed by the sale of a 100% stake in IRIS Logix to Sovos.
As of 10:34 AM, shares of the company were trading at ₹352.20, up 4.99% for the day. Shares of the company opened in green, marking a rise from its previous close of ₹335.45. Since the positive start, the stock has maintained its high, remaining stable during the early trading.
Market Reaction
| Price Metrics | Value (₹) |
|---|---|
| Last Traded Price | 352.20 |
| % Change (Today) | +4.99% |
| Previous Close | 335.45 |
| VWAP | 352.20 |
| 52-Week Range | 217.40 – 577.00 |
| Buy Quantity | 97,477 |
| Sell Quantity | 0 |
The stock hit its upper band of ₹352.20 with strong buying demand and zero sellers, signaling bullish sentiment post-announcement.
Key Transaction Details
The Board cleared the divestment in a four-step transaction involving:
| Component | Value (₹ Cr) |
|---|---|
| Slump sale of GST ASP Business to IRIS Logix | 140.57 |
| Sale of 100% stake in IRIS Logix to Sovos | 10.67* |
| Total Deal Size | 151.24 |
*Subject to net working capital and cash adjustments
Company Statement
“This divestment unlocks significant value from our GST ASP business and allows us to focus on global Suptech and Regtech opportunities,” the company noted in its filing.
Segment Contribution (FY25)
| Unit | Turnover (₹ Cr) | % of Total | Net Worth (₹ Cr) | % of Total |
|---|---|---|---|---|
| GST ASP Biz | 15.15 | 12.67% | 5.71 | 7.16% |
| IRIS Logix Subsidiary | 1.21 | 0.96% | 0.84 | 1.08% |
Outlook
The divestment decision has sparked strong investor interest, with the stock hitting its upper circuit amid bullish sentiment. The market views this move as a strategic pivot, and focus will now shift to how IRIS reallocates capital and expands its global Suptech-Regtech footprint.
About IRIS Business Services
Listed on NSE and BSE (Symbol: IRIS), the company offers software products across regulatory compliance, Suptech, and Regtech segments. It was incorporated in 2000 and listed in November 2021. Its market cap stands at ₹723.35 crore, with a free float of ₹453.32 crore.
REF: https://nsearchives.nseindia.com/corporate/IRIS_02072025225415_IRIS_Outcome_BoardMeeting_02July2025_signed.pdf
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