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PlaySimple, India Unit of Sweden’s Modern Times, Files for IPO
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Published by Global Banking & Finance Review®
Posted on April 23, 2026
1 min read
Sweden’s Modern Times unit PlaySimple files for $350 million India IPO
PlaySimple’s IPO Filing and Company Background
IPO Details and Company Statement
April 23 (Reuters) – Swedish entertainment company Modern Times Group said on Thursday that its Indian game developer unit, PlaySimple, has filed for a $350 million initial public offering.
PlaySimple’s Game Offerings and Market Competition
Founded in 2014, Bengaluru-based PlaySimple offers mobile word games like the Daily Themed Crossword and Word Bingo, competing with Wordle from The New York Times.
Ownership Structure Post-IPO
Modern Times said that it intends to remain a majority owner of PlaySimple following the completion of the IPO, in which there are no new shares being issued.
IPO Management and Previous Reports
Bookrunning Managers
In a filing, PlaySimple said that Axis Capital, JPMorgan, Morgan Stanley and MUFG are acting as leading bookrunning managers for the offering.
Previous IPO Valuation Reports
Reuters reported exclusively in November that Modern Times was seeking a $450 million IPO for PlaySimple.
Acquisition History
Modern Times acquired PlaySimple in 2021 for $360 million.
(Reporting by Gursimran Kaur in Bengaluru; Editing by Maju Samuel)

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