KKR picks minority stake in BookMyShow; to support platform’s next phase of growth

Global investment firm KKR will acquire a minority stake in BookMyShow as the entertainment platform aims to expand its live entertainment business and strengthen its full-stack offering across India.

Funds managed by KKR will acquire the stake under definitive agreements signed with BookMyShow. The transaction is subject to customary regulatory approvals. Financial details of the deal have not been disclosed.

Founded in 2007, BookMyShow has grown from an online movie ticketing platform into an entertainment company covering movies, live entertainment and experiences. Its live entertainment division, BookMyShow Live, operates across the value chain, including talent and intellectual property acquisition, production, promotion, partnerships and audience development.

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BookMyShow said KKR’s investment will support its next phase of growth as it scales its live entertainment business. The company operates in more than 700 towns and cities in India and has expanded its live entertainment portfolio to include music concerts, live performances, theatricals and sports.

KKR said its investment reflects confidence in India’s entertainment sector and BookMyShow’s growth prospects, supported by rising discretionary spending, a large and young consumer base and growing demand for live entertainment.

“BookMyShow has been a pioneer in delivering high-quality entertainment experiences in India,” said Akshay Tanna, partner and head of India Private Equity at KKR. BookMyShow Live has brought events such as Lollapalooza India, U2’s The Joshua Tree Tour, NBA games in India, Disney’s Aladdin and Cirque du Soleil BAZZ to the country, and has also worked with international artists including Coldplay, Ed Sheeran, Travis Scott, Linkin Park, John Mayer, Guns N’ Roses, Post Malone and Justin Bieber.

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BookMyShow founder and CEO Ashish Hemrajani said KKR’s global perspective and consumer-business expertise would support the company’s next phase of growth.

BookMyShow’s existing investors include Network18, part of Reliance Industries, Accel Partners, Elevation Capital, Stripes Group and TPG.

The transaction marks KKR’s latest private equity investment in India and adds BookMyShow to its global media and entertainment portfolio. Avendus Capital was BookMyShow’s exclusive financial adviser, while Trilegal acted as legal adviser.