Servotech Power Establishes New Subsidiary To Expand Into Sports
This new entity will oversee operations in sports, events, and promotions.
Servotech Power Systems Ltd. is venturing into the sports sector with the launch of its subsidiary, Servotech Sports and Entertainment Pvt. The newly launched subsidiary will look after the sports sector, events and promotion.
With Servotech Sports and Entertainment, the company is looking to strengthen its brand presence and connect with a wider audience base. The subsidiary will help empower athletes, promote inclusivity, elevate the sporting experience, and inspire a new generation of enthusiasts, the company said in an exchange filing on Tuesday.
The establishment of the subsidiary is a step towards diversification and expansion for the company.
"The subsidiary aims to create a platform where sports can flourish with a philosophy to cultivate a healthy culture of sports that nurtures indigenous talent, boosts the sports economy, and enables India to come closer to becoming a leading force in the sports sector," said Raman Bhatia, founder and managing director, Servotech Power Systems.
Shares of Servotech Power Systems closed 0.70% higher at Rs 98.11 apiece on the BSE, as compared to a 0.49% advance in the benchmark Sensex.
