BookMyShow Raises Rs 150 Crore From SAIF Partners, Existing Investors

BookMyShow, an online entertainment ticketing service owned by Bigtree Entertainment Pvt Ltd, has Rs 150 crore from SAIF Partners and its existing investors, Accel Partners and Network18 Media and Investments Ltd. The transaction values the venture at over Rs 1,000 crore, according to a company statement.

BookMyShow will use the funding to expand its reach outside big cities, build infrastructure and increase its service offerings. The company has recently started offering ticketing services in 20 more cities. It is now looking to enter the single-screen cinema hall segment.

“We are very happy to have SAIF Partners as our latest investors. Their experience of having helped companies such as MakeMyTrip and Just Dial go public would be of immense value to us as we move forward in our growth plans,” said Ashish Hemrajani, founder and chief executive of BookMyShow.

Last year, the Network18 group, which held 60% stake in Bigtree Entertainment, sold a minority stake to venture capital investor Accel Partners for around $12 million (Rs 66 crore).