PlaySimple Games IPO: PlaySimple Games Ltd is seeking the capital market regulator SEBI's nod to raise funds via IPO. PlaySimple Games has already filed draft papers with SEBI to raise Rs 3,150 crore.
PlaySimple Games is a wholly-owned Indian subsidiary of Swedish gaming firm Modern Times Group MTG AB.
PlaySimple Games IPO will entirely be an offer for sale (OFS). MTG, along with other shareholders, will trim their stake in the company via OFS.
Since PlaySimple Games IPO will be an OFS, the entire proceeds will go to MTG and not to the company.
PlaySimple Games IPO size is expected to be around Rs 3,150 crore (about USD 350 million). The final issue size of IPO may, however, vary.
MTG said it is trimming stake, but it has plans to retain majority stake in PlaySimple after the IPO.
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MTG is an international gaming group headquartered in Sweden, with a portfolio of gaming companies focused on casual and mid-core segments, and its shares are listed on Nasdaq Stockholm.
PlaySimple is a global mobile entertainment company focused on casual mobile games, aiming to deliver engaging daily experiences to players worldwide.
Founded in 2014, the company has emerged as a leading player in the word games segment, with a growing portfolio of over 30 live casual puzzle titles. Its games are available in more than 110 countries across North America, Europe, Asia and other international markets.
The company's popular offerings include titles such as Word Search Explorer, Daily Themed Crossword, Crossword Jam, Word Trip and Word Jam, catering to users across age groups and skill levels.
