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

Mobile games publisher PlaySimple Games, the subsidiary of the Sweden-based Modern Times Group, has filed preliminary papers with the Securities and Exchange Board of India (SEBI) to raise funds up to Rs 3,150-crore via IPO.

The IPO comprises of entirely an offer-for-sale by promoter MTGx Gaming Holding AB, with no fresh issue component.

Hence, "the objects of the initial public offering (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," said global mobile entertainment company PlaySimple Games in its DRHP filed on April 23.

Promoters MTGx Gaming Holding AB, and Modern Times Group MTG AB (publ) hold 100 percent shareholding in its Indian subsidiary that claims the largest Indian pureplay casual mobile games company in terms of FY25 revenue, according to the Redseer Report.

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Bangalore-based PlaySimple with subsidiaries in Israel and Singapore owns a portfolio of 30 live casual mobile games across five major game categories (search, crossword, anagram, other word games and non-word puzzles), having approximately 4.99 million daily active users as of December 2025, in North America, Europe and Asia.

PlaySimple Games, which was acquired by Modern Times Group in 2021, has recorded profit of Rs 359 crore for the year ended December 2025, falling 31.1 percent from Rs 521.1 crore in previous year. However, in the same period, revenue from operations grew by 20.4 percent to Rs 2,259.8 crore from Rs 1,876.9 crore.

PlayGames 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 are appointed as the merchant bankers for managing the Playsimple Games IPO.