BookMyShow acquires 75 per cent stake in Townscript
Entertainment ticketing platform BookMyShow on Tuesday said it has bought 75 per cent stake in Pune-based 'Townscript' for an undisclosed amount.

Founded in 2014 by Sachin Sharma and Sanchit Malik, Townscript is a DIY (do it yourself) event registration and ticketing platform that allows users to set up events like workshops, conferences and exhibitions.

Its platform has already facilitated 12,000 such events across major cities as well as smaller cities like Ludhiana and Jaipur.

"With this investment, we now have a majority stake in Townscript and we plan to help them take lead in this category while empowering small and medium event organisers over a marketplace model," Ashish Hemrajani, CEO and co-founder at BookMyShow, said.

"We will use the investment primarily for improving the product offering. BookMyShow's deep understanding of this space will be critical as we hit scale not just in terms of geographical penetration but also with regards to our product offering expansion," Townscript co-founder Sachin Sharma said.

Hemrajani said the company has found "perfect synergy match" with Townscript.

"Both Sachin and Sanchit have shown great drive and have charted an aggressive growth path for the company. We are eager to share our learnings as well as market and product expertise in this space, to help Townscript continue to scale," he said.

The deal will also see Hemant Madhwani, Business Development Manager of BookMyShow, moving to Townscript.

Last month, BookMyShow had acquired Hyderabad-based MastiTickets in an all-cash deal for an undisclosed amount.

It has also acquired Chennai-based (2013), social media analytics startup Eventifier (2015) and fan relationship management startup Fantain Sports (2016).