KKR to acquire minority stake in BookMyShow, backing live entertainment expansion

New Delhi: Global investment firm KKR on Wednesday said it has signed definitive agreements to acquire a minority stake in Indian ticketing and live entertainment platform BookMyShow.While the financial details of the transaction were not disclosed, the investment is aimed at supporting BookMyShow's growth as it scales its live entertainment business and deepens its full-stack offering across India, the companies said in a joint statement. "BookMyShow has been a pioneer in delivering high-quality entertainment experiences in India. We believe BookMyShow will play an important role in advancing India’s ambition to become a global entertainment hub and a premier destination for leading artists and acts from around the world," said Akshay Tanna, Partner and Head of India Private Equity at KKR.Uttar Pradesh Attracts ₹6500 Crore Investment Proposals From Top Domestic & Global Firms Established in 2007 and owned by Bigtree Entertainment Pvt Ltd, BookMyShow has evolved from a purely online movie ticketing platform to an end-to-end management of live entertainment events, including music concerts, live performances, theatricals, and sports.The company currently operates in over 700 towns and cities in India. BookMyShow’s existing investors include Network18, Accel, Elevation Capital, Stripes Group, and TPG Growth.Global Investment Firm Blackstone Sells 9.5% Stake In IT & Consulting Company Mphasis For ₹4,726 Crore For KKR, this marks the latest addition to its diverse India portfolio, which includes investments in Medicover India, Lighthouse Learning, Vini Cosmetics, HealthCare Global Enterprises, Darwinbox, and Rebel Foods.Disclaimer: This story is from the syndicated feed. Nothing has been changed except the headline.

MUMBAI: KKR, a leading global investment firm, has agreed to acquire a minority stake in Indian entertainment and ticketing platform BookMyShow, KKR said on Wednesday. The financial details were not disclosed.The investment will support BookMyShow’s next phase of growth, including the expansion of its live entertainment business and the development of its full-stack entertainment offering across India, KKR said.The largest shareholder of BMS -operated by Bigtree Entertainment, is Reliance unit Network18, holding a 39% stake. Other existing investors include Accel, Elevation Capital, Stripes Group, and TPG Growth.KKR had planned to invest about $250-300 million in Reliance Industries-backed BookMyShow to acquire a minority stake, ET first reported in January 2024. However, the talks subsequently stalled and remained stuck for the past couple of years.Also read | Indian refiners face crude cost surge as Gulf premiums rise, Russian oil discounts vanishFounded in 2007, BookMyShow has evolved from a ticketing platform into a full-stack entertainment company, combining technology, consumer reach and industry expertise across movies, live entertainment and experiences.KKR said its investment reflects its confidence in India’s entertainment sector and BookMyShow’s growth prospects, driven by rising discretionary spending, a large and young consumer base and increasing demand for world-class live entertainment experiences.“BookMyShow has been a pioneer in delivering high-quality entertainment experiences in India. We are pleased to support BookMyShow as it continues to lead the next phase of growth in India’s out-of-home entertainment sector,” said Akshay Tanna, partner and head of India private equity at KKR. “We look forward to combining our deep local knowledge with our global investment experience and network to support BookMyShow in its next stage of transformation and further elevate the world-class experiences it delivers to audiences across India.”Also read | Realtors line up to buy bankrupt developers as land prices riseAshish Hemrajani, founder and CEO of BookMyShow, said KKR’s global perspective, expertise and understanding of consumer businesses would be valuable as the company enters its next phase of growth.“The timing of this investment is particularly exciting, as we have significantly expanded our presence across the live entertainment landscape and are seeing the opportunity for India’s entertainment economy grow like never before,” Hemrajani said.KKR has invested across sectors in India, with its portfolio including Medicover India, Lighthouse Learning, Vini Cosmetics, Healthcare Global Enterprises, Darwinbox and Rebel Foods.BookMyShow will add to KKR’s global media and entertainment portfolio, which includes Internet Brands, ByteDance, Chord Music Partners, Epic Games, PlayOnSports, OverDrive, Superstruct and Simon & Schuster.