KKR to pick up minority stake in BookMyShow

Global investment firm KKR will acquire a minority stake in Indian ticketing and live entertainment platform BookMyShow, the companies announced on Wednesday.

KKR and BookMyShow said they have signed definitive agreements under which funds managed by the investment firm will acquire the minority stake.

Financial details of the transaction were not disclosed.

The investment will support BookMyShow's next phase of growth, particularly its live entertainment business, the companies said.

The investment comes at a time when India's entertainment and ticketing market is attracting new players.

In August 2024, Eternal, the parent company of Zomato, announced the acquisition of Paytm's entertainment and ticketing business for ₹2,048 crore.

The acquisition made Eternal a direct competitor to BookMyShow across movies, events and other entertainment categories.

Founded in 2007, BookMyShow has expanded from a ticketing platform into a full-stack 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.

"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.

KKR believes BookMyShow can help advance India's ambition to become a global entertainment hub and a destination for leading artists and acts from around the world, he added.

BookMyShow Founder and CEO Ashish Hemrajani said KKR's global perspective, expertise and understanding of consumer businesses would support the company's next phase of growth.

"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.

He also thanked existing investors Network18, part of Reliance Industries, Accel Partners, Elevation Capital, Stripes Group and TPG for their continued support.

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

The transaction will be KKR's latest private equity investment in India. Its existing investments in the country include Medicover India, Lighthouse Learning, Vini Cosmetics, Healthcare Global Enterprises, Darwinbox and Rebel Foods.