We are enclosing herewith Press Release issued by the Company as " Colab Platforms launching website www.colabesports.in for Debuts Esports Division as India prepares for the Olympic Gaming Glory."
Awaiting price reaction for this filing.
Colab Platforms Limited has launched a dedicated esports division with its new website www.colabesports.in, aimed at competitive gaming athletes in India. The platform will offer official player profiles, XP and ranking systems, leaderboards, and rewards. The company is entering the esports market which it values at USD 208.73 million in 2024, projected to grow at 18.8% CAGR to USD 1,168.82 million by 2034. India has 594 million online gamers and 1.5 million professional esports athletes, with the government formally recognising esports and confirming India's participation in the Olympic Esports Games 2027 in Saudi Arabia.
This represents a new business vertical for Colab Platforms, tapping into a fast-growing market with strong government backing. Shareholders should view this as a strategic expansion into a high-potential sector, though actual revenue contribution and execution risks remain to be seen.