The subsidiary has been incorporated in the state of Maharashtra, with the Certificate of Incorporation granted by the Central Registration Centre, Ministry of Corporate Affairs.
According to the company, the proposed wholly-owned subsidiary (WOS) will play a pivotal role in driving the holding company's business expansion. The object clause outlines a broad framework for the WOS to engage in the sale of sports goods, equipment, and apparel through both online and offline channels.
The company has fully subscribed to 2,50,000 equity shares of Colab Sports Ventures, each with a face value of Rs 10. The subscription amount for the shares will be paid in cash by the individual subscribers, who are nominees of the company.
Colab Cloud Platforms, developed by experts, is transforming the sports ecosystem with its integrated digital platform. The platform integrates sports technology, athlete management, sports IPs, content creation, and event marketing into a seamless ecosystem.
The company’s standalone net profit rose 4.5% to Rs 0.92 crore in Q3 FY25 as against Rs 0.88 crore posted in Q3 FY24. Total income zoomed to Rs 23.63 crore in Q3 FY25, steeply higher than Rs 1.14 crore posted in the same quarter previous year.
As of 24 February 2025, the company’s market capitalization stood at Rs 626.89 crore on the BSE.