Mumbai based online entertainment ticketing platform is in advanced talks to raise around $50-60 million (approximately Rs320-380 crore) from private equity firm TPG Growth, reported Live Mint citing two people aware of the development.

TPG Growth, which is the middle market and growth equity platform of the US-based alternative asset firm TPG, is looking to pick up a minority stake of about 10% in Bookmyshow, said the report.

If the deal goes through, it will be the fourth round of fund-raising (Series-D) for BookMyShow and TPG are likely to value BookMyShow at around $750 million, which is quite near to becoming an another unicorn startup from India.

Bookmyshow last raised ₹550 crore in a round led by Stripes Venture, in July 2016, and the funding was biggest for any internet startup in that year.

Prior to that, the company had raised an amount of Rs. 150 crore from Network18 Media, SAIF Partners and Accel Partners. As of date, the total capital invested in the company now adds up to a whopping figure of Rs. 800 crore ($124.5 million).

Founded in 1999 by Ashish Hemrajani, Parikshit Dar and Rajesh Balpande, BookMyShow's core business remains movie ticketing however the company, in recent years, has been diversifying its business to add categories such as sporting events, music events and plays.

Additionally, if this funding deal materialize then this will help Bookmyshow to strengthen its leadership position, which has been under pressure due to entry of players such as Alibaba-backed Paytm in the movie ticketing space.

Moreover, since its inception the company has also acquired six other companies including Burrp, MastTicket, Infusion and Eventifier, among others.

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