Adar Poonawala will buy 50% stake in Karan Johar’s Dharma Productions, deal will be for ₹ 1000 crores
Adar Poonawala-led Serene Productions is going to buy 50% stake in famous Bollywood director Karan Johar’s Dharma Productions and Dharmatic Entertainment. The price of this deal will be around ₹ 1,000 crores. According to the press release, Karan will retain the remaining 50% stake in Dharma and will remain the executive chairman of the company. Apart from this, Apoorva Mehta will also continue to hold the responsibility of the post of CEO in the company.
India’s entertainment industry has been witnessing tremendous growth over the past few years, with digital platforms playing a key role in it. This strategic partnership between Serene Productions and Dharma has been created to capitalize on these opportunities by combining Dharma’s legacy of storytelling with Adar Poonawalla’s strategic acumen and resources.
What did Poonawalla say?
The partnership aims to increase content creation, distribution and viewership with the help of advanced technologies and better production methods. Poonawalla said, “I am very happy to have this opportunity to partner with my friend Karan Johar, one of the most iconic production houses in the country. We hope to build and grow Dharma and touch even greater heights in the years to come.”
Through this partnership, Serene Productions and Dharma aim to meet the growing demands of today’s digitally savvy consumers while pushing the boundaries of creative storytelling. This partnership can prove to be a significant step towards taking the Indian entertainment industry to the global level. In an era where the relationship between audiences and entertainment platforms is more dynamic and interactive than ever before.
Karan Johar said, “Dharma Productions has been successful in telling heart-warming stories since its inception, which reflect the essence of Indian culture. My father dreamed of making films that leave a big impact and I have dedicated my career to furthering that vision. We are ready to take the legacy of Dharma to new heights along with close friend, visionary and innovator Adar. This partnership is a perfect mix of our emotional storytelling and forward-thinking business.”
Rain Group has served as the exclusive financial advisor to Dharma. While AZB & Partners acted as legal advisors to Dharma Productions, JSA acted as legal advisors to Serene Productions.
Mehta said, “Over the years, I have seen Dharma transform into a multifaceted content powerhouse. This partnership with Adar realizes our vision and ushers in a new era where cinema, streaming and global content come together. It enables us to explore new avenues in content creation and distribution, boosting the Indian entertainment ecosystem. Most importantly, this investment allows us to take big creative steps.”
