Gaming Giant's $450M IPO Buzz: Is India the Next Big Tech Hub?

Tech

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Updated on 13 Nov 2025, 11:35 am

Modern Times Group (MTG), a Swedish entertainment firm, is exploring a substantial Initial Public Offering (IPO) for its Indian subsidiary, PlaySimple, with plans to list in Mumbai. The IPO is projected to raise approximately $450 million. PlaySimple, established in 2014 and based in Bengaluru, is well-known for its popular mobile word games, such as Daily Themed Crossword and Word Bingo. Modern Times Group acquired PlaySimple in 2021 for $360 million.

A spokesperson for Modern Times Group confirmed that the company is undertaking an 'IPO preparedness study' for PlaySimple, indicating concrete steps towards a public listing. This development occurs as India's IPO market demonstrates robust growth, positioning it as the world's third-largest for new listings this year. Several international firms, including Hyundai Motor India and LG Electronics India, have recently launched public offerings for their local operations. PlaySimple reported strong financials last year, with consolidated revenue from operations amounting to $213.5 million and a profit of $59 million.

The company is reportedly in discussions with financial advisors Axis Capital, Morgan Stanley, and JP Morgan, with the IPO potentially targeting the first half of next year.

Impact This IPO is expected to generate significant investor interest in India's rapidly expanding gaming and technology sectors, potentially attracting more foreign capital. It also underscores the increasing attractiveness of Indian stock exchanges for global companies seeking public listings. Rating: 7/10

Difficult Terms: * **Initial Public Offering (IPO)**: The process by which a private company offers its shares to the public for the first time on a stock exchange, becoming a publicly traded company. * **Subsidiary**: A company that is owned or controlled by another company, known as the parent company. * **Revenue from operations**: The total income generated by a company from its primary business activities during a specific period. * **Consolidated revenue**: The combined revenue of a parent company and all of its subsidiaries, presented as a single figure on financial statements.