PlaySimple Aims for Big Money Move in India

Bengaluru-based PlaySimple, a prominent game company, is set to make waves with its upcoming Initial Public Offering (IPO). This move underscores the surging popularity of mobile games globally.

A Leader in Mobile Gaming

PlaySimple is renowned for its engaging games like Daily Themed Crossword and Word Bingo, which have garnered a massive following. The company is part of Modern Times Group (MTG), a Swedish media conglomerate that acquired PlaySimple in 2021 for a substantial sum.

India's IPO Boom

PlaySimple is not alone in its pursuit of capital. India has become a hotspot for IPOs, with companies raising over $16 billion this year alone. This positions India as one of the top global destinations for public listings.

Preparing for the IPO

PlaySimple is collaborating with leading financial institutions, including Axis Capital, Morgan Stanley, and JP Morgan, to finalize its IPO plans. The company aims to launch the offering in the first half of 2024.

Strong Financial Performance

In 2023, PlaySimple reported impressive revenue of $213.5 million and a profit of $59 million, highlighting the profitability of its gaming portfolio. The IPO is expected to raise around $450 million, though the final valuation remains undisclosed.

This strategic move marks a significant milestone for PlaySimple, reinforcing the growing influence of mobile gaming in the global market.