Tech Mahindra launches new subsidiary for global chess events

Tech Mahindra Limited announced the incorporation of Chessworks Private Limited (CWPL) as a wholly-owned step-down subsidiary of Allyis India Private Limited (AIPL), which is a wholly-owned subsidiary of Tech Mahindra. CWPL was incorporated in India on December 14, 2025, with the primary objective of organizing and promoting chess events and leagues globally. The Certificate of Incorporation was issued by the Ministry of Corporate Affairs on December 15, 2025.

CWPL has an Authorized Share Capital of INR 100,000, comprising 10,000 equity shares of INR 10 each, and a Subscribed and Paid-up Share Capital of INR 100,000, also consisting of 10,000 equity shares of INR 10 each. AIPL has subscribed to all 10,000 equity shares, giving it 100% control of CWPL. As CWPL is newly incorporated, it has no turnover to report, and its business operations are yet to commence.

This incorporation is a cash-based acquisition, and the initial subscription by AIPL is not classified as a Related Party Transaction for Tech Mahindra. CWPL will develop intellectual property, digital platforms, and educational programs in collaboration with federations, institutions, and sponsors to nurture talent and enhance engagement in the chess community.