PlaySimple's IPO: Swedish Company's Indian Game Developer Goes Public

Swedish entertainment company, Modern Times Group, plans to list its Indian game developer, PlaySimple, in Mumbai, potentially raising $450 million. PlaySimple, known for popular mobile word games, was acquired by Modern Times Group in 2021 for $360 million. This IPO move reflects a growing trend of global companies listing their Indian subsidiaries on local exchanges. Modern Times Group is reportedly in talks with major financial institutions for advisory roles, aiming to launch the PlaySimple IPO in the first half of next year. PlaySimples strong financial performance last year, with $213.5 million in revenue and $59 million in profit, underscores the significance of this potential IPO for both the company and the Indian financial market.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.