2 weeks ago
KKR to Acquire Minority BookMyShow Stake, Expanding India Entertainment Investment
KKR is a large investment firm that plans to buy a small part of BookMyShow.
BookMyShow helps people buy tickets for movies and other entertainment.
It also helps organize live events such as concerts and sports.
The companies did not say how much money KKR will invest.
They said the investment will help BookMyShow grow its live entertainment business.
BookMyShow began in 2007 as an online movie-ticketing service.
It now operates in more than 700 towns and cities in India.
KKR said BookMyShow could help India become a major destination for entertainment and artists.
KKR signed agreements to acquire a minority stake in India’s BookMyShow.
The financial terms of the transaction were not disclosed.
The investment will support BookMyShow’s live entertainment expansion across India.
BookMyShow has grown from movie ticketing into managing concerts, performances, theatricals, and sports events.
The platform operates in more than 700 Indian towns and cities and counts several existing investors.
- Who
- KKR and BookMyShow, owned by Bigtree Entertainment Pvt Ltd.
- What
- KKR signed agreements to acquire a minority stake in BookMyShow.
- Where
- India, with the announcement issued from New Delhi.
- When
- The announcement was made on Wednesday; no specific date was provided.
- Why
- The investment is intended to support BookMyShow’s live entertainment growth and broader entertainment services across India.
Key facts
- Investor
- KKR
- Company receiving investment
- BookMyShow
- Ownership
- BookMyShow is owned by Bigtree Entertainment Pvt Ltd.
- Transaction size
- KKR will acquire a minority stake; financial details were not disclosed.
- Founded
- BookMyShow was established in 2007.
- Operating reach
- More than 700 towns and cities in India.
- Business focus
- Movie ticketing, concerts, live performances, theatricals, sports, and live-event management.
Quotes
Akshay Tanna
Partner and Head of India Private Equity at KKR
“BookMyShow has been a pioneer in delivering high-quality entertainment experiences in India. 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.”
freepressjournal.in
Sources
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