Iris Business Services Limited — Important, 10-07-2025: Updates

IRIS Business Services has announced a board meeting on the proposed divestment of its Tax Technology (GST ASP) business to US-based Sovos LLC. The TaxTech segment generated ~INR16.35 Cr revenue in FY25 but was loss-making. The sale will transfer ~100 employees and related assets to Sovos via subsidiary IRIS Logix, with most proceeds expected by August. The divestment will allow IRIS to focus capital and resources on scaling its higher-growth RegTech and SupTech businesses, targeting INR500 Cr revenue in 4-5 years. The company plans aggressive investment in sales, marketing, and product development, especially for its enterprise SaaS offerings like IRIS CARBON.