Tech Mahindra Incorporates Chess-Focused Step-Down Subsidiary

Tech Mahindra Ltd. has informed exchanges that its wholly owned subsidiary, Allyis India Private Limited, has incorporated a new wholly owned step-down subsidiary, **Chessworks Private Limited**, in India on December 14, 2025. The company received the certificate of incorporation from the Ministry of Corporate Affairs on December 15, 2025 Chessworks Private Limited has been set up with the objective of **organizing and promoting chess events and leagues globally**. The entity has an authorized and paid-up share capital of ₹1 lakh and is yet to commence business operations. The incorporation does not involve any related party transaction at the Tech Mahindra level and has been done through a cash subscription **Market View:** The move signals Tech Mahindra’s interest in building capabilities in the **sports and digital engagement ecosystem**. While the financial impact is immaterial in the near term, the initiative could support brand building and future opportunities in sports-tech, digital platforms, and IP-led businesses. *Disclaimer: This article is for informational purposes only and does not constitute investment advice.*