SEBI Clears IPOs Of Rediff, PlaySimple
Markets regulator SEBI has given its go-ahead to the initial public offerings (IPOs) of AvenuesAI’s (formerly Infibeam Avenues) subsidiary Rediff…
The Securities and Exchange Board of India (SEBI) has approved the Initial Public Offerings (IPOs) of AvenuesAI's subsidiary, Rediff, and mobile game developer, PlaySimple. The regulator had previously issued observation letters for the public offers on August 4 and 6, respectively. An observation letter signifies SEBI's approval for a company to go public, valid for 12-18 months.
Rediff, founded in 1995 and acquired by AvenuesAI in August 2024, offers email services, digital payments, and an enterprise business suite. It had confidentially filed for an IPO worth ₹600-₹800 Cr, with further details coming from its updated draft red herring prospectus (UDRHP). PlaySimple, a wholly-owned subsidiary of Swedish gaming company MTG, filed its DRHP for an OFS-only IPO, potentially offloading shares worth ₹3,150 Cr.
Established in 2014, the company boasts 4.99 million daily active users and over 400 million downloads as of December 31, 2025, generating revenue from in-app advertisements, in-app purchases, and software development services. Other notable IPO approvals include logistics tech company LEAP India, edtech company Klassroom, ecommerce enablement platform Shiprocket, and various manufacturing, defense tech, furniture rental, and drone tech startups.
Meanwhile, quick-commerce giant Zepto has paused its IPO plans for a pre-IPO fundraise of around ₹1,000 Cr.
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