Sweden-based Modern Times Group subsidiary files draft papers for Rs 3,150 crore IPO

PlaySimple Games Files Preliminary Papers for Rs 3,150-Crore IPO

PlaySimple Games, a subsidiary of Modern Times Group (MTG), has filed preliminary papers with the Securities and Exchange Board of India (SEBI) to raise funds up to Rs 3,150 crore via an initial public offering (IPO). The IPO, entirely an offer-for-sale by promoter MTGx Gaming Holding AB, does not include a fresh issue component.

According to the draft red herring prospectus (DRHP) filed by PlaySimple Games on April 23, the objects of the IPO are to carry out the offer-for-sale worth up to Rs 3,150 crore by the promoter selling shareholder; and achieve the benefits of listing the equity shares on the stock exchanges.

PlaySimple Games, a global mobile entertainment company, claims to be the largest Indian pureplay casual mobile games company in terms of FY25 revenue, according to the Redseer Report. The company, which was acquired by Modern Times Group in 2021, has a portfolio of 30 live casual mobile games across five major game categories. As of December 2025, PlaySimple Games had approximately 4.99 million daily active users in North America, Europe, and Asia.

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Business Performance PlaySimple Games has recorded a profit of Rs 359 crore for the year ended December 2025, a decline of 31.1 percent from Rs 521.1 crore in the previous year. However, revenue from operations grew by 20.4 percent to Rs 2,259.8 crore from Rs 1,876.9 crore in the same period.

The company compares itself with Nazara Technologies in India, and with Roblox Corporation and Take-Two Interactive Software Inc. globally.

Axis Capital, JP Morgan India, and Morgan Stanley India Company have been appointed as the merchant bankers for managing the Playsimple Games IPO.

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