Adar Poonawalla, CEO of Serum Institute of India (SII), has announced that his company, Serene Productions, will acquire a 50% stake in Dharma Productions, the prominent film production house led by Karan Johar.
The investment, valued at Rs 1,000 crore (approximately $119 million), will also include Dharmatic Entertainment, a subsidiary of Dharma Productions.
This strategic partnership values the production house at Rs 2,000 crore.
Poonawalla expressed optimism about the venture, stating, “We hope to build and grow Dharma and scale even greater heights in the years to come.” Karan Johar will retain the remaining 50% ownership and continue his role as Executive Chairman.
Following the announcement, Johar highlighted the collaboration as a blend of emotional storytelling and innovative business strategies, emphasizing the importance of honoring their roots while looking towards the future of global entertainment.
Apoorva Mehta, who serves as the Chief Executive Officer, is expected to collaborate with Johar to shape the strategic direction and manage operations at the company. Dharma Productions, founded in 1976 by Johar’s father, Yash Johar, previously had an ownership structure dominated by Karan Johar, who held 90.7%, with his mother, Hiroo Johar, owning the remaining 9.24%.
This significant investment marks a new chapter for Dharma Productions as it aims to expand its influence in the entertainment industry.