Exclusive: Sweden's Modern Times seeks $450 million IPO for its Indian gaming subsidiary, PlaySimple, according to sources. The company, which acquired PlaySimple in 2021 for $360 million, is planning to list the Bengaluru-based mobile game developer on the Indian stock market in the first half of 2026. This move comes as India's IPO market soars, attracting global companies seeking local listings. Modern Times' PlaySimple division, known for popular word games like Daily Themed Crossword and Word Bingo, has seen significant growth, generating $213.5 million in revenue and $59 million in profit last year. The company is in discussions with Axis Capital, Morgan Stanley, and JP Morgan for advisory roles, with plans to launch the IPO in the first half of next year. This development highlights the increasing interest in India's thriving tech sector, as evidenced by recent listings by Hyundai Motor, LG Electronics, and WeWork India.
