BookMyShow Eyes Stake Sale To Achieve $1 Billion Valuation2 min read

BookMyShow is an India based e-ticketing service to purchase tickets for sports, movies, theaters, concerts, audio entertainment, etc. It is the biggest e-ticketing platform in India, with over 30 million users. Besides India, it operates in 5 more countries. The company’s stake is soon going to be sold to Temasek, a Singapore based private holding company. Another giant to be a part of it is the American multinational investment company, Goldman Sachs.

The two have grouped together to pick up 10-12% stake of this enterprise. This deal is going to push the company’s valuation to cross 1 billion marks according to sources.

Read More: Facebook’s Newly Launched Libra Under International Scrutiny

The sources also said that, as a part of the transaction, it includes the complete exit of [simple_tooltip content=’SAIF Partners is a stage and sector agnostic private equity firm in Asia. SAIF Partners currently manages over $4 billion in capital. The firm has offices in Hong Kong, China, and India.’]SAIF Partner[/simple_tooltip]. The company currently holds a 5.6% stake while a partial exit will also take effect by Accel India. The sources also added that this deal would also mean liquidity for the employees. Earlier this year, BookMyShow had given an official order to Mumbai based boutique investment banking firm ‘Avendus Capital’ for the share sale seeking a valuation of about 1.3 billion.

Negotiations are now at advanced stage & the closure of the deal will be effective in the next few weeks. Accel Partners, who bought a large minority of sales investing $18 million in 2012, is expected to make handsome returns & still retain a good part of its stake. On the other hand, SAIF partners will make around four times returns on investment. Since SAIF partners hold a stake in Paytm, which is one of the main competitors of BookMyShow, a conflict has arisen between them & BookMyShow. This conflict is the cause behind SAIF Partner’s complete exit.

Get real time updates directly on you device, subscribe now.

You might also like
Notify of

Inline Feedbacks
View all comments
Subscribe to our newsletter
Sign up here to get the latest news, updates and special offers delivered directly to your inbox.
You can unsubscribe at any time

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More

Would love your thoughts, please comment.x


Join our mailing list to receive the latest news and updates from Markedium!

You have Successfully Subscribed!