Global investment firm KKR has signed definitive agreements to acquire a minority stake in Indian ticketing and live entertainment company BookMyShow, an investment intended to support the company’s next phase of growth across India.
“BookMyShow has been a pioneer in delivering high-quality entertainment experiences in India,” Akshay Tanna, Partner and Head of India Private Equity at KKR, said in the announcement. “We are pleased to support BookMyShow as it continues to lead the next phase of growth in India’s out-of-home entertainment sector. 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. 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.”
Established in 2007, BookMyShow has evolved from a ticketing platform into a full-stack entertainment company, including through its BookMyShow Live division, which includes talent and IP acquisition to production, promotion, partnerships and audience development.
Ashish Hemrajani, Founder & CEO, BookMyShow, said in the announcement, “We are delighted to welcome KKR as an investor in BookMyShow. Their global perspective, deep expertise and strong understanding of consumer businesses will be invaluable as we enter the next phase of our journey. 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. We are also grateful to our longstanding investors Network18 (part of Reliance Industries Limited), Accel Partners, Elevation Capital, Stripes Group, and TPG for their continued support.”
The transaction is subject to customary regulatory approvals. Financial details of the transaction were not disclosed. Avendus Capital served as the exclusive financial advisor for BookMyShow, while Trilegal acted as legal advisor.
The announcement marks KKR’s latest investment in India, following deals in multiple sectors including healthcare, education, health and beauty, restaurants and more.
BookMyShow’s concert highlights in recent years include multiple Indian dates with global talent like Ed Sheeran and Coldplay, along with co-producing Lollapalooza India.
