KKR picks up minority stake in BookMyShow
PE major KKR has signed definitive agreements to acquire a minority stake in BookMyShow, the companies announced on Wednesday, as the global investment firm backs the Indian entertainment platform’s expansion into live events. KKR joins investors such as Accel Partners, Elevation Capital and TPG, who’ve backed the firm since its inception.
The latest investment will support BookMyShow’s next phase of growth as it scales its live entertainment business and deepens its full-stack offering across the country, it said. Financial terms of the transaction were not disclosed. It also comes amid a rapidly growing domestic entertainment market, which is attracting a wave of new competition.
