The Ministry of Corporate Affairs has given the green light to foodtech firm Swiggy to incorporate a wholly-owned subsidiary – Swiggy Sports Pvt. Ltd – to enter the sports and recreational activities segment.
“…Ministry of Corporate Affairs, Central Processing Centre has approved the incorporation of Swiggy Sports Private Limited, a wholly owned subsidiary of the company, today, January 15, 2025,” the Swiggy stated in a stock exchange filing on Wednesday.
“The main objects of the newly 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.,” the foodtech firm further stated.
This move signals Swiggy’s ambition to go beyond food and grocery delivery and become a major player in the sports industry.
Swiggy Sports has outlined a comprehensive strategy that includes:
Team ownership and management: Investing in and managing sports teams across various disciplines.
Talent development: Nurturing and supporting emerging athletes.
Event organisation: Hosting and managing sporting events.
Sports facility operation: Developing and running state-of-the-art sports facilities.
Career services: Providing career guidance and opportunities for athletes.
Broadcasting and sponsorship: Acquiring rights and securing sponsorships to maximise reach and revenue.
Swiggy’s acquisition in November 2024 of Team Mumbai in the World Pickleball League (WPBL) was the first clear indication of its ambitions in the sports sector. Co-founded by former tennis players Gaurav Natekar and Arati Ponnappa Natekar, WPBL lays claim to being India’s first and only official global franchise-based pickleball league. Its inaugural season is set to take place from 24 January to 2 February.
