NEW DELHI—Rahul Chaudhari tagged an opponent, spun away from a tackle and sprinted back across the midline of the court before taunting his rivals with a celebratory move: a midair split with a fist pump.

The lanky Mr. Chaudhari is a rising star in India's newest professional sport: Kabaddi.

An ancient Indian game, kabaddi in its newest incarnation is like a high-octane mix of tag and Greco-Roman wrestling. Since the start of its first season last month, it has been drawing sellout crowds and big television audiences.

The new league, known as Pro Kabaddi, is backed by Anand Mahindra, chairman of one of India's biggest conglomerates, Mahindra Group , which, among other things, is the world's largest manufacturer of tractors.

Franchise owners include the Future Group, run by Indian big-box store pioneer Kishore Biyani, and the former head of Walt Disney Co. 's Indian unit, Ronnie Screwvala.