Private equity company General Atlantic, Singapore’s sovereign wealth fund Temasek and investment banking major Goldman Sachs are among the investors who’ve lined up for 10-12% stake in BookMyShow. The deal may push the online ticketing major’s valuation to more than the $1-billion mark.
The transaction will involve a complete exit by SAIF Partners which holds 5.6%, and a partial exit by Accel India. BookMyShow had mandated Avendus Capital for the share sale earlier this year and was seeking a valuation of about $1.3 billion. If the deal closes soon, as is expected, its valuation will be over $1,000 million.
SAIF will make over four times’ return on its investment. Accel will make more while retaining a large part of its stake. Earlier this year, BookMyShow invested in payments company AtomX to enable cashless payments at its events.