Swiggy’s sports arm gets Corporate Affairs Ministry nod

New Delhi: The Ministry of Corporate Affairs has given the green light for Swiggy Sports, a wholly owned subsidiary, to officially begin operations.

"...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 filing said.

"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.," Swiggy said.

This move signals Swiggy's ambition to 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.

The company shared the update in a regulatory filing.