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.
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.
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.
