Swiggy Ventures into Sports: Incorporates 'Swiggy Sports Private Limited'

Swiggy, India's leading food delivery platform, is diversifying into the sports and recreation sector with the incorporation of a wholly-owned subsidiary, 'Swiggy Sports Private Limited'. This new entity will focus on sports team ownership, management, talent development, event organization, and acquiring broadcasting and sponsorship rights. The Ministry of Corporate Affairs has approved the incorporation, and Swiggy will hold a 100% stake with an initial share capital of ₹1 lakh.This strategic move signifies Swiggy's commitment to expanding its business horizons beyond food delivery, aiming to make a significant impact in India's burgeoning sports industry.

Source:Exchange4media