PlaySimple Files Draft Papers for ₹3,150 Crore IPO

Swedish gaming firm Modern Times Group (MTG) on Friday announced that its wholly-owned Indian subsidiary PlaySimple Games has filed draft papers with the market regulator to launch an Initial Public Offering (IPO) worth ₹3,150 crore.

According to the draft red herring prospectus (DRHP), the IPO will be entirely an Offer For Sale (OFS), with MTG acting as the promoter and selling shareholder. This means the proceeds from the issue will go to MTG and not to PlaySimple Games.

The proposed issue size is estimated at around ₹3,150 crore (approximately USD 350 million), though the final size may vary within permissible limits and will be determined closer to the opening of the offer.

PlaySimple Games, known for its popular mobile gaming portfolio, is expected to use the listing to enhance its market visibility, even as the parent company looks to partially divest its stake through the public issue.

Further details, including the price band, timeline, and listing date, are expected to be announced in due course after regulatory approvals.