Investment firm KKR bets on India’s live entertainment boom with BookMyShow stake
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Global investment firm KKR will acquire a minority stake in Indian ticketing and live entertainment platform BookMyShow, as part of a deal aimed at supporting the company’s next phase of growth and expansion in the live entertainment business.
KKR and BookMyShow said on Wednesday that they have signed definitive agreements for the investment. The transaction is subject to customary regulatory approvals, while financial details of the deal have not been disclosed.
Founded in 2007, BookMyShow has expanded from an online ticketing platform into a full-stack entertainment company with operations spanning 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.
The company has increasingly focused on bringing international artists, music acts and large-scale productions to Indian audiences. It said the investment from KKR will help it scale its live entertainment business and strengthen its integrated offering across the country.
“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. He added that the company could play an important role in strengthening India’s position as a global entertainment hub and a destination for international artists and acts.
BookMyShow founder and chief executive Ashish Hemrajani said KKR’s global perspective and experience with consumer businesses would support the company as it enters its next phase of growth.
The investment comes as India’s live entertainment market expands amid rising discretionary spending, a large young consumer base and increasing demand for international and premium entertainment experiences.
Hemrajani also acknowledged the continued support of the company’s existing investors, including Network18, part of Reliance Industries, Accel Partners, Elevation Capital, Stripes Group and TPG.
The transaction marks KKR’s latest private equity investment in India. Its portfolio in the country includes Medicover India, Lighthouse Learning, Vini Cosmetics, Healthcare Global Enterprises, Darwinbox and Rebel Foods.
Globally, KKR has investments across the media and entertainment sector, including Internet Brands, ByteDance, Epic Games, Superstruct and Simon & Schuster.
Avendus Capital acted as the exclusive financial adviser to BookMyShow, while Trilegal served as its legal adviser.