PlaySimple Aims for Big Money Move in India

PlaySimple, a game company based in Bengaluru, is making big plans. It wants to raise a lot of money through an IPO. This is a big deal because it shows how popular mobile games have become. PlaySimple is known for games like Daily Themed Crossword and Word Bingo. These games are loved by many people. The company is part of Modern Times Group, which is based in Sweden. Modern Times bought PlaySimple in 2021 for a huge amount of money. PlaySimple is not the only company looking to raise money in India. Many global companies are doing the same. This year alone, companies have raised over $16 billion through IPOs in India. This makes India one of the top places for IPOs in the world. PlaySimple is talking to big banks like Axis Capital, Morgan Stanley, and JP Morgan. They are helping PlaySimple get ready for the IPO. The plan is to launch the IPO in the first half of next year. PlaySimple made a lot of money last year. They had revenue of $213. 5 million and a profit of $59 million. This shows that their games are very popular and profitable. The IPO could raise $450 million, but the exact valuation is not clear yet. This is a big step for PlaySimple and shows how important mobile games have become in the market.