Private equity firm KKR picks up minority stake in BookMyShow

Private equity firm KKR has acquired a minority stake in the digital ticketing platform BookMyShow, according to a statement from the investment firm. The undisclosed value of the investment was made with the aim of supporting BookMyShow's expansion in its live entertainment business, with the goal of bringing international artists to Indian audiences.

Founded in 2007, BookMyShow has raised over $225 million, with its last funding round in 2019 where it raised $100 million led by TPG. Other investors in BookMyShow include Network18, Accel Partners, Elevation Capital, and Stripes Group.

BookMyShow has evolved from a platform solely for movie tickets to a broader offering of live entertainment and experiences. Ashish Hemrajani, BookMyShow's founder and CEO, expressed that KKR's global perspective, deep expertise, and strong understanding of consumer businesses will be invaluable as the company enters the next phase of its growth journey.

KKR, which offers alternative asset management, capital markets, and insurance solutions, has assets under management valued at over $750 billion. The firm's investment in BookMyShow reflects its belief in India's entertainment sector and the platform's potential to drive growth, fueled by increasing discretionary spending, a large and young consumer base, and rising demand for high-quality live experiences.

Akshay Tanna, Partner and Head of India Private Equity at KKR, stated that BookMyShow has been a pioneer in delivering top-notch entertainment experiences in India. The firm is pleased to back the company as it continues to lead the next phase of growth in India's out-of-home entertainment sector, believing that BookMyShow will play a crucial role in India's ambition to become a global entertainment hub and a top destination for leading artists and acts worldwide.