IPO · Enterprise Software & IT

Sebi clears Rediff and PlaySimple IPOs

By Startup Enthusiast · 7 August 2026

What they do

Rediff is a Mumbai-based internet company offering email, payments, and enterprise software

Sebi cleared Rediff's IPO (₹600-₹800 Cr) and PlaySimple's offer-for-sale IPO (₹3,150 Cr)

Rediff was acquired by AvenuesAI in 2024 and later bought its parent's ecommerce SaaS platform

Sebi issued observation letters for the IPOs of Rediff and PlaySimple on 4 and 6 August 2026 respectively.
Rediff confidentially filed its IPO draft with Sebi in April 2026.
Rediff's IPO size is estimated at ₹600-₹800 crore.
PlaySimple filed a DRHP for an offer-for-sale (OFS) only IPO.
In PlaySimple's IPO, parent company MTG may offload shares worth ₹3,150 crore.
Rediff was acquired by AvenuesAI (formerly Infibeam Avenues) in August 2024.
Rediff later acquired its parent company's ecommerce SaaS platform at a ₹800 crore valuation last year.

The IPOs come amid a busy pipeline including LEAP India, Klassroom, Shiprocket, Zetwerk, Tonbo Imaging, RentoMojo, and Garuda Aerospace.
Zepto has put its IPO on hold and is pursuing a pre-IPO fundraise of about ₹1,000 crore.
Both Rediff and PlaySimple are established companies with clear business models and revenue streams.

Rediff is a Mumbai-based internet company founded in 1995 by Ajit Balakrishnan.
Its businesses include Rediffmail (enterprise email), RediffPay (digital payments), and RediffOne (enterprise business suite).
PlaySimple was founded in 2014 by Siddharth Jain, Siddhanth Jain, Preeti Reddy, and Suraj Nalin.
PlaySimple develops casual mobile games and had 4.99 million daily active users and over 400 million downloads across 30 games as of 31 December 2025.
PlaySimple earns revenue from in-app ads, in-app purchases, and software development services (licensing and maintaining games for third parties).