India, Aug. 7 -- Markets regulator SEBI has given its go-ahead to the initial public offerings (IPOs) of AvenuesAI's (formerly Infibeam Avenues) subsidiary Rediff and mobile game developer PlaySimple.

As per markets regulator's latest update, it had issued observation letters over the public offers of Rediff.com India Limited and Playsimple Games Limited on August 4 and 6, respectively.

In SEBI parlance, the issuance of an observation letter is indicative of the regulator's go-ahead for a company to go public. The observation letter, once issued, remains valid for a window of 12-18 months during which the startup can open its IPO for public subscription.

Rediff, founded in 1995 by Ajit Balakrishnan, is a Mumbai-based internet company w...