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.

In August 2024, Zomato parent Eternal announced its acquisition of Paytm’s entertainment and ticketing business for Rs 2,048 crore as it expanded its “going-out” offering through District. The deal made Eternal a direct rival to BookMyShow across movies, events and other entertainment categories.

Founded in 2007, BookMyShow has now grown from an online movie ticketing platform into a broader entertainment company spanning cinemas, live events and experiences. Its live entertainment arm, BookMyShow Live, handles everything from talent acquisition to production and promotion, and has brought acts including Coldplay, Ed Sheeran, Guns N’ Roses and Justin Bieber to India.

While FY26 financial numbers are not available yet, the firm’s revenue rose 30.7% to Rs 1,869.3 crore in FY25 from Rs 1,429.9 crore in FY24, according to Tracxn data. Net profit rose 77.1% to Rs 192.4 crore in FY25 from Rs 108.6 crore a year earlier.

Akshay Tanna, partner and head of India private equity at KKR, said the firm sees BookMyShow playing a role in advancing India’s ambitions to become a global entertainment hub, citing the company’s technology and consumer reach.

Ashish Hemrajani, founder and chief executive of BookMyShow, said the timing of the investment comes as the company expands its entertainment footprint.

The deal adds BookMyShow to KKR’s India private equity portfolio, which includes Medicover India, Lighthouse Learning, Vini Cosmetics, Healthcare Global Enterprises, Darwinbox and Rebel Foods. It also joins the firm’s global media and entertainment investments, including ByteDance, Epic Games and Simon & Schuster.

Avendus Capital advised BookMyShow on the transaction, while Trilegal acted as legal counsel. The deal remains subject to customary regulatory approvals.