KKR To Acquire Minority Stake In BookMyShow After Two-Year Stalled Talks

Global investment firm KKR has agreed to acquire a minority stake in BookMyShow, India's entertainment and ticketing platform, the company said on Wednesday. KKR did not disclose the size of the deal.

The investment will back BookMyShow's next phase of growth, including the expansion of its live entertainment business and its full-stack entertainment offering across the country, KKR said.

Network18, a Reliance Industries unit, remains the largest shareholder in BookMyShow, which is operated by Bigtree Entertainment, holding a 39% stake. Other existing backers include Accel, Elevation Capital, Stripes Group and TPG Growth.

In January 2024 that KKR was in talks to invest between $250 million and $300 million in BookMyShow for a minority stake, as per previous reports. Those discussions stalled soon after and remained inactive for nearly two years before the deal was finally sealed.

Founded in 2007, BookMyShow started out as a ticketing platform and has since grown into a full-stack entertainment company, spanning movies, live entertainment and experiences across India.

Confidence in India's Entertainment Sector

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

Akshay Tanna, partner and head of India private equity at KKR, said 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," he said, adding that KKR would combine its local knowledge with global investment experience to support the company's next stage of transformation.

Ashish Hemrajani, founder and CEO of BookMyShow, said KKR's global perspective and understanding of consumer businesses would be valuable as the company enters its next growth phase. "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 said.

KKR's existing India investments include Medicover India, Lighthouse Learning, Vini Cosmetics, Healthcare Global Enterprises, Darwinbox and Rebel Foods. Globally, its media and entertainment portfolio includes Internet Brands, ByteDance, Chord Music Partners, Epic Games, PlayOnSports, OverDrive, Superstruct and Simon & Schuster. BookMyShow now joins this global roster of investments.