Foodtech giant Swiggy has secured approval from the Ministry of Corporate Affairs (MCA) to set up a wholly-owned subsidiary, Swiggy Sports Pvt. Ltd, marking its entry into the sports and recreational activities sector. The company disclosed this development in a stock exchange filing on Wednesday.
This strategic move highlights Swiggy’s ambition to diversify beyond food and grocery delivery, strengthening its out-of-home consumption business, which generated ₹45.8 crore in gross revenue in the first quarter of FY 2024-25.
“The newly incorporated entity will focus on sports team ownership, management, talent development, event organization, facility operations, career services, acquiring broadcasting and sponsorship rights, and promoting sports events through various business models,” Swiggy stated in its filing.
Swiggy’s Growing Interest in Sports
An e-commerce executive, speaking on condition of anonymity, noted that Swiggy and Zomato are increasingly exploring opportunities beyond their core offerings, particularly in event ticketing and dining. While launching a dedicated sports subsidiary was unexpected, Swiggy’s acquisition of Team Mumbai in the World Pickleball League (WPBL) in November 2024 signals its serious commitment to the space.
Founded by former Indian tennis players Gaurav Natekar and Arati Ponnappa Natekar, WPBL is India’s first global franchise-based pickleball league, with its inaugural season set to run from January 24 to February 2, 2025.
Swiggy’s move aligns with the rising popularity of pickleball across age groups, helping strengthen brand recall. Indian companies investing in sports franchises is not new—Vedanta Ltd acquired hockey team Kalinga Lancers in October 2024, while GMR Group, owner of Delhi Capitals, took a majority stake in Hampshire County Cricket Club the same month.
“Pickleball is gaining traction in metro cities among both young and older players. Swiggy’s foray into sports aligns with its broader strategy of catering to diverse demographics through offerings like food delivery, grocery services, and dining out,” the executive added.
Meanwhile, Zomato has also been doubling down on its “going-out” business, following its ₹2,048.4 crore acquisition of Paytm’s event ticketing vertical in August 2024. The company claims its dining-out segment alone is operating at an annualized gross order value (GOV) of over ₹4,184 crore, further underscoring the growing importance of experiences beyond food delivery.