Tech Mahindra has announced the incorporation of a new wholly-owned step-down subsidiary focused on chess events and tournaments. The IT services major informed stock exchanges on December 15, 2025, about the formation of Chessworks Private Limited (CWPL) through its existing subsidiary Allyis India Private Limited (AIPL).

Corporate Structure and Capital Details

The Ministry of Corporate Affairs issued the Certificate of Incorporation for CWPL on December 14, 2025. Tech Mahindra received official intimation of the incorporation on December 15, 2025, at 11:11 AM IST.

Business Objectives and Operations

CWPL has been established with the primary objective of organizing and promoting chess events and leagues globally. The subsidiary will engage in managing chess-related events, leagues, and tournaments at various levels both in India and internationally. Additionally, the company plans to 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.

Regulatory Compliance

The incorporation falls under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. Tech Mahindra clarified that the initial subscription by AIPL towards CWPL's incorporation does not fall within the purview of Related Party Transactions for the parent company. However, following incorporation, CWPL has become a subsidiary and consequently a Related Party of Tech Mahindra.

Financial Investment

The promoter, promoter group, and group companies of Tech Mahindra do not have any interest in CWPL beyond the subsidiary relationship established through AIPL. As a newly incorporated entity, CWPL has not yet commenced business operations, making turnover details not applicable at this stage.

Tech Mahindra has announced the incorporation of a new step-down subsidiary in Tanzania, marking another strategic expansion in the African market. The IT services giant received confirmation on December 10, 2025, that Yabx Technologies Tanzania Limited has been officially incorporated in the United Republic of Tanzania.

Corporate Structure and Ownership

The newly formed subsidiary operates through a multi-tiered corporate structure. Yabx Technologies Tanzania Limited is incorporated as a subsidiary of Yabx Technologies (Netherlands) B.V., which is a wholly-owned subsidiary of Comviva Technologies Limited. Comviva Technologies Limited itself is a subsidiary of Tech Mahindra Limited, making the Tanzania entity a step-down subsidiary of the parent company.

Business Objectives and Market Focus

Yabx Technologies Tanzania Limited has been established with the primary objective of providing software and analytics platform related services to clients in Tanzania. The subsidiary will focus on serving banks, micro-financial institutions, and other lending organizations in the Tanzanian market. This business model aligns with Tech Mahindra's core information technology services and represents an extension of the company's existing capabilities into the East African region.

Regulatory Compliance and Documentation

Tech Mahindra received the incorporation confirmation at 7:44 p.m. IST on December 10, 2025, when the certificate of incorporation was issued by the Office of the Registrar of Companies in Tanzania. The company has fulfilled its disclosure obligations under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Strategic Implications

The incorporation of Yabx Technologies Tanzania Limited represents Tech Mahindra's continued focus on expanding its geographical footprint in emerging markets. The subsidiary will operate in the information technology sector, maintaining alignment with the parent company's core business activities. As a newly incorporated entity, Yabx Technologies Tanzania Limited has not yet commenced business operations and therefore has no turnover to report at this time.

The establishment of this subsidiary demonstrates Tech Mahindra's commitment to serving the growing demand for digital financial services in Tanzania's banking and microfinance sectors, positioning the company to capitalize on the region's digital transformation initiatives.