IPO · Consumer Internet & Media

PlaySimple files ₹3150 crore OFS IPO for Swedish owner

By Startup Enthusiast · 24 April 2026

What they do

PlaySimple Games develops casual mobile games like Word Search Explorer and Daily Themed Crossword

The company filed a DRHP for a ₹3,150 Cr Offer-For-Sale IPO to list on NSE and BSE

Swedish parent MTG sells shares; no new capital enters the company as founders have exited

PlaySimple Games has filed its Draft Red Herring Prospectus (DRHP) with SEBI for an initial public offering.
The IPO size is ₹3,150 Crore raised entirely through an Offer-For-Sale (OFS).
An OFS means existing shareholders sell their stakes; no new money goes to the company.
The sole seller is MTGx Gaming Holding AB, a subsidiary of Sweden-based Modern Times Group MTG AB.
MTG acquired PlaySimple in 2021 for over $360 Million and intends to remain the majority owner post-IPO.
Lead managers for the issue include Axis Capital, JP Morgan India, and Morgan Stanley India.
The listing will take place on the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE).
Allocation includes 50% for Qualified Institutional Buyers (QIBs), 35% for Retail investors, and 15% for Non-institutional investors.

This marks the second gaming company to go public in India after Nazara Technologies.
Associate firm NODWIN Gaming is also preparing for its own initial public offering.
PlaySimple claims to be the largest pureplay casual mobile games firm in India by FY25 revenue.
Investors may view the OFS structure as a signal of promoter exit rather than growth funding.

PlaySimple operates over 110 countries across North America, Europe, and Asia.
It offers 30 live casual mobile games including word puzzles and non-word challenges.
Key titles include Word Search Explorer, Daily Themed Crossword, and Word Trip.
The company monetizes through in-app advertisements, in-app purchases, and software development services.
Software services involve licensing or maintaining games for third-party clients.
Cumulative downloads reached 424.61 Million since the company started in 2015.
Daily Active Users (DAUs) stood at approximately 4.99 Million as of December 31, 2025.
FY25 downloads surged to 15.02 Crore compared to 7.15 Crore in the previous year.
Revenue mix is dominated by advertising income of ₹1,916.9 Crore and in-app purchases of ₹333.6 Crore.

MTGx Gaming Holding AB (seller) — Subsidiary of Sweden-based Modern Times Group MTG AB which acquired PlaySimple in 2021.
Elevation Capital (existing) — Previous investor in PlaySimple Games.
IDG Ventures India (existing) — Previous investor in PlaySimple Games.