The financial details of the transaction were not disclosed.
KKR’s investment will support BookMyShow’s next phase of growth as it scales its live entertainment business and deepens its full-stack offering across India, according to a statement.
KKR’s investment reflects its conviction in India’s entertainment sector and in BookMyShow’s ability to drive its next phase of growth, powered by rising discretionary spending, a large and young consumer base, and growing demand for world-class live experiences, it added.
With expansive consumer reach, technology and entertainment capabilities, the Company is positioned to continue its growth in a fast-maturing market, the statement added.
“BookMyShow has been a pioneer in delivering high-quality entertainment experiences in India. We are pleased to support BookMyShow as it continues to lead the next phase of growth in India’s out-of-home entertainment sector,” Akshay Tanna, Partner and Head of India Private Equity at KKR, said.
“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,” he added.
“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,” Tanna said.
“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,” Ashish Hemrajani, Founder & CEO, BookMyShow, said.
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, he added.
Established in 2007, BookMyShow has evolved from a ticketing platform into a full-stack entertainment company. A key part of this evolution has been BookMyShow Live, the company’s live entertainment experiences division, which operates across the value chain – from talent and IP acquisition to production, promotion, partnerships, and audience development.
Other investors in the company include Network18 (part of Reliance Industries Ltd), Accel Partners, Elevation Capital, Stripes Group, and TPG.
BookMyShow adds to KKR’s global portfolio of Media and Entertainment investments, including Internet Brands; ByteDance; Chord Music Partners; Epic Games; PlayOnSports; OverDrive; Superstruct; and Simon & Schuster.
KKR other investments in India include multi-speciality hospital Medicover India, education services provider Lighthouse Learning, personal care and beauty products firm Vini Cosmetics, HR technology platform Darwinbox among others.
Avendus Capital served as the exclusive financial advisor for BookMyShow, while Trilegal acted as legal advisor.
