The new entity will be engaged in sports team ownership, management, talent development, event organisation, and acquiring broadcasting and sponsorship rights
The nod comes a month after Swiggy received board approval to set up a new subsidiary catering to the “sports activities and amusement and recreation activities” segment
Swiggy said in December that the sports subsidiary was being set up to only house the Mumbai pickleball team it acquired in the World Pickleball League
Foodtech major Swiggy has received the approval from the corporate affairs ministry (MCA) to incorporate its sports arm, Swiggy Sports Private Limited.
In an exchange filing on Wednesday (January 16), the company said that the “main objects of the newly to be incorporated entity will include engaging in sports team ownership, management, talent development, event organisation, and facility operation, offering career services, acquiring broadcasting and sponsorship rights, and promoting sports events through various business models etc”.