Q1. What is the business of PlaySimple Games Limited?

It develops and publishes casual mobile games, especially word and puzzle games, with over 424 million downloads across 110+ countries and millions of daily users.

Q2. Why is the company raising funds via IPO?

The IPO of PlaySimple Games Limited is a 100% Offer for Sale (OFS), allowing promoter MTGx Gaming Holding AB to partially monetize its investment and create a public market for shares.

Q3. What is the size of the issue and where will it list?

The IPO comprises fully Offer for Sale (OFS) of ₹ 3150 Cr. It will be listed on NSE and BSE platform.

Q4. What are the key risks to an investor?

Key risks include dependence on a few flagship games, intense competition in mobile gaming, changing player preferences, and reliance on app-store ecosystems for distribution.

Q5. What are the potential upsides?

The company is a global leader in mobile word games, has strong profitability, a large international user base, and benefits from a scalable digital business model.

Q6. How to apply for the IPO?

Investors can apply for the IPO through ASBA via net banking or using UPI through registered stock brokers once the IPO opens for subscription.

PlaySimple Games Ltd

Upcoming

PlaySimple Games Ltd

Market Cap

₹ 11,721 – 15099Cr

IPO Issue Size

₹ 3150 Cr

Expected Price by IPOCorner

₹ 502 – 647

IPO Score

*Score varies on actual price

PlaySimple Games Limited is a global mobile entertainment company focused on casual mobile games, especially word games and puzzle-based mobile gaming titles. The company develops and operates popular games such as Daily Themed Crossword, Word Search Explorer, Crossword Jam, Word Trip, and Word Jam, with players across more than 110 countries.

PlaySimple Games Limited was incorporated in 2014 & currently Mr. Yoav Ecker serves as the Managing Director of the company.PlaySimple Games Limited filed its DRHP with SEBI on April 23, 2026. The IPO features completely an Offer for Sale (OFS) of ₹ 3150 Cr.

It develops and operates 30 live casual mobile games across categories such as word search, crossword, anagram, puzzle, and non-word puzzle games. Its major titles include Daily Themed Crossword, Word Search Explorer, Crossword Jam, Word Trip, and Word Jam. PlaySimple games are available globally through major mobile app stores and have achieved 424.61 million cumulative downloads, 4.99 million daily active users (DAUs), and a presence in 110+ countries. The company monetizes through in-app advertisements (IAA), in-app purchases (IAP), and game development services.

Subscription date to apply for PlaySimple Games Limited is yet to be announced. Price band for the IPO is yet to be declared.

Year	2025
Networth	₹ 634.62 Cr
Revenue	₹ 2259.81 Cr
EBITDA	₹ 463.44 Cr
PAT	₹ 359.03 Cr
EBITDA Margin	~20.51%
PAT Margin	~15.58%
Face Value	Rs.10 per Equity Share

IPO Important Dates

#	Date
Open Date	TBA
Close Date	TBA
Anchor Investor Bidding	TBA
Allotment Date	TBA
Refunds& Demat Credit	TBA
Tentative Listing Date	TBA

Use Of Proceeds

Purpose	Amount
-	-
-	-
-	-
-	-
-	-
General Corporate Purpose	Balance

Financial Data

#	2023	2024	2025
Revenue (₹ Cr)	₹ 1,837.4	₹ 1,876.9	₹ 2,259.8
PAT (₹ Cr)	₹ 14.9	₹ 521.2	₹ 359.0
Asset (₹ Cr)	₹ 1,241.0	₹ 1,824.5	₹ 1,227.6
Net Worth (₹ Cr)	₹ 76.0	₹ 1,432.4	₹ 634.6

IPO Grey Market Premium

Date	IPO Price	IPO GMP	Profit Per Lot
17 July	₹ –	₹ –	₹ –
16-July	₹ –	₹ –	₹ –
15-July	₹ –	₹ –	₹ –
14-July	₹ –
13-July	₹ –

Pros

Market leader in mobile word games with about 14% global download share in CY2025.
Strong global presence with 424+ million downloads across 110+ countries.
Asset-light digital business model with high scalability and low capital expenditure.
Diversified revenue streams from in-app purchases, advertising, and game publishing.
Backed by experienced gaming industry owner Modern Times Group (MTG), providing operational and strategic support.

Cons

Entire IPO is an Offer for Sale (OFS), so the company receives no fresh capital.
Revenue depends heavily on a few flagship games, increasing concentration risk.
Mobile gaming is highly competitive with rapidly changing user preferences.
User acquisition costs can rise significantly due to dependence on digital advertising platforms.
Earnings may be affected by changes in app store policies of Apple App Store and Google Play Store.

Promoters – Pre offer equity (Approx)

Promoters	% Shares
Johnson Asaria	MTGx Gaming Holding AB
97.53%	Modern Times Group MTG AB (publ)
2.47%	-
-	-
-	-
-	-

Lot Size details

Application Type	Lot Size	No. of Lot	No. of Shares	Investment Amount
Retail (Min)	–	1	–	₹ –
Retail (Max)	–	13	–	₹ –
HNI (Min)	–	14	–	₹ –
HNI (Max)	–	66	–	₹ –
Big HNI (Min)	–	67	–	₹ –

Key Performance Index (KPI)

ROE	54.26%
ROCE	0.00%
RoNW	56.57%

Lead / Book Running Lead Managers

Axis Capital Limited, J.P. Morgan India Private Limited ,Morgan Stanley India Company Private Limited

Registrar (RTA)

MUFG Intime India Private Limited

Q1. What is the business of PlaySimple Games Limited?
It develops and publishes casual mobile games, especially word and puzzle games, with over 424 million downloads across 110+ countries and millions of daily users.
Q2. Why is the company raising funds via IPO?
The IPO of PlaySimple Games Limited is a 100% Offer for Sale (OFS), allowing promoter MTGx Gaming Holding AB to partially monetize its investment and create a public market for shares.
Q3. What is the size of the issue and where will it list?
The IPO comprises fully Offer for Sale (OFS) of ₹ 3150 Cr. It will be listed on NSE and BSE platform.
Q4. What are the key risks to an investor?
Key risks include dependence on a few flagship games, intense competition in mobile gaming, changing player preferences, and reliance on app-store ecosystems for distribution.
Q5. What are the potential upsides?
The company is a global leader in mobile word games, has strong profitability, a large international user base, and benefits from a scalable digital business model.
Q6. How to apply for the IPO?
Investors can apply for the IPO through ASBA via net banking or using UPI through registered stock brokers once the IPO opens for subscription.