PlaySimple Games IPO: ₹3,150 Crore DRHP Filed
- 24th April 2026
- 01:00 PM
- 4 min read
Summary
PlaySimple Games Ltd has filed a draft red herring prospectus with SEBI to raise ₹3,150 crore through an IPO structured entirely as an offer for sale by promoter MTGx Gaming Holding AB. The issue carries no fresh issue component, meaning all proceeds go to the promoter. PlaySimple is India's largest pure-play casual mobile games company by revenue as of FY2025, according to the Redseer Report.Mumbai | 24 April 2026
PlaySimple Games Ltd, a Bengaluru-based casual mobile gaming company, has filed draft papers with the Securities and Exchange Board of India (SEBI) to raise ₹3,150 crore through an initial public offering. The issue is entirely an offer for sale (OFS) by promoter MTGx Gaming Holding AB, a subsidiary of Sweden-based Modern Times Group MTG AB. As the IPO includes no fresh issue, all proceeds will accrue to MTGx and not to PlaySimple.
The company’s equity shares will be listed on the NSE and BSE.
What Is the PlaySimple Games IPO Structure?
The IPO is a pure OFS of up to ₹3,150 crore, approximately USD 350 million. The final issue size may vary within permissible limits and will be decided closer to the offer opening. The timing of the public issue has not been announced.
| Detail | Information |
| Issue size | Up to ₹3,150 crore (~USD 350 million) |
| Issue type | Offer for sale (OFS) |
| Selling shareholder | MTGx Gaming Holding AB |
| Promoter stake pre-IPO | Over 97% |
| Lead managers | Axis Capital, JP Morgan India, Morgan Stanley India |
| Registrar | MUFG Intime India |
| Listing | NSE and BSE |
How Is the Offer Allocated?
Half of the offer is reserved for qualified institutional buyers (QIBs), 35 percent for retail individual investors, and 15 percent for non-institutional investors.
Who Is PlaySimple Games?
PlaySimple Games is a global mobile entertainment company based in India, focused on casual mobile games. Founded in 2014, it is a wholly-owned subsidiary of Sweden-based Modern Times Group MTG AB and the largest Indian pure-play casual mobile games company by revenue as of FY2025, according to the Redseer Report.
The company ranked first globally, and in 78 countries, in mobile word games by downloads in calendar year 2025. It accounted for approximately 14 percent of the 731 million global word game downloads during the year, based on Sensor Tower data cited in the Redseer Report.
PlaySimple operates a portfolio of 30 live casual mobile games across five categories: search, crossword, anagram, other word games, and non-word puzzles. Popular titles include Word Search Explorer, Daily Themed Crossword, Crossword Jam, Word Trip, and Word Jam. Its games are available in over 110 countries across North America, Europe, Asia, and other international markets.
What Is PlaySimple’s Technology Platform?
PlaySimple operates its gaming ecosystem through an in-house modular technology platform called Little Engine. The platform leverages data from the company’s portfolio and user base to enhance game development and monetisation efficiency.
How Large Is PlaySimple’s User Base?
The company reported approximately 4.99 million daily active users (DAUs) as of 31 December 2025. Its flagship title, Word Search Explorer, ranked first in word games across 68 countries by downloads in 2025 and recorded an average of 1.96 million DAUs.
Cumulative downloads stood at 424.61 million between 1 January 2015 and 31 December 2025. Total app downloads during FY25 were 15.02 crore, compared to 7.15 crore in the previous year.
PlaySimple Games Financial Performance
| Particulars | FY24 | FY25 |
| Revenue (₹ crore) | 1,876.86 | 2,259.82 |
| Net profit (₹ crore) | 521.19 | 359.03 |
Revenue grew from ₹1,876.86 crore in FY24 to ₹2,259.82 crore in FY25. Net profit declined to ₹359.03 crore from ₹521.19 crore over the same period.
Who Is MTGx Gaming Holding AB?
MTGx Gaming Holding AB is the promoter and selling shareholder in the PlaySimple Games IPO, holding over 97 percent stake in the company prior to the offering. MTG has stated its intent to retain majority ownership in PlaySimple after the IPO’s completion.
Outlook
The timing of the PlaySimple Games IPO will be determined in due course, subject to SEBI’s review of the DRHP. The final issue size may be revised within permissible limits closer to the offer opening date.
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