KKR Set to Acquire Minority Stake in BookMyShow in New Investment Deal

In a joint statement, BookMyShow and investment firm KKR announced that KKR will acquire a minority stake in the company. This investment will help BookMyShow scale its live entertainment business and expand its full-stack offerings across India, fuelling its next phase of growth.

The 2007-launched BookMyShow is owned and run by the 1999-founded Bigtree Entertainment Pvt. Ltd. With global operations, it is one of India's premier entertainment destinations and serves as a comprehensive entertainment hub. It collaborates with partners all across the sector and has a presence in more than 700 places around the nation.

Win-Win Deal for Both KKR and BookMyShow

In a formal statement, KKR expressed its belief that BookMyShow can lead the entertainment industry in India into its next growth phase. This growth phase will be driven by increasing discretionary spending, a youthful and broad customer base, and the desire for top-notch live entertainment. With its vast customer base, advanced technology, and impressive entertainment offerings, the company is well-positioned to sustain its development in a rapidly evolving market.

While Trilegal was BookMyShow's legal advisor, Avendus Capital was its exclusive financial advisor. The pioneer in delivering high-quality entertainment experiences in India has been BookMyShow, according to Akshay Tanna, Partner and Head of India Private Equity at KKR. As BookMyShow spearheads the upcoming expansion of India's out-of-home entertainment business, the firm is happy to back the company. According to Tanna, BookMyShow will be important in helping India realise its vision of being a world-renowned entertainment capital and a top destination for world-renowned musicians and performers.

KKR Expanding its Global Entertainment Footprints

KKR has expanded its worldwide media and entertainment holdings with the acquisition of BookMyShow. Among the many entertainment brands represented by KKR are ByteDance, Epic Games, PlayOnSports, Superstruct, ByteDance Chord Music Partners, OverDrive, and Simon & Schuster. Regulatory clearances are needed for the deal to go through. In a press release, BookMyShow's founder and chief executive officer Ashish Hemrajani expressed his company's joy at having KKR on board as an investor.

Their extensive knowledge, global outlook, and grasp of consumer businesses will prove to be priceless as BookMyShow embarks on its next chapter. The company's meteoric rise to prominence in the live entertainment industry makes this investment all the more timely. In addition, Hemrajani stated that the brand is quite optimistic about the future of India's entertainment industry.

In addition, Hemrajani expressed gratitude to the firm's long-term backers, including Accel Partners, Elevation Capital, Stripes Group, TPG, and Network18 (a division of Reliance Industries Limited). By leveraging their extensive worldwide investment network and in-depth local knowledge, Tanna plans to assist BookMyShow in its next phase of growth. Hence, allowing it to provide even better world-class experiences to Indian audiences.