Adar Poonawalla set to acquire 50% stake in Dharma Productions

Adar Poonawalla led Serene Productions announced that it has entered into a binding agreement to invest INR 1,000 crore into Karan Johar’s Dharma Productions and Dharmatic Entertainment (collectively, 'Dharma'). Through this investment, Serene Productions will hold a 50% stake in Dharma, with Karan Johar retaining the remaining 50% ownership.

Johar as the Executive Chairman will lead the company's creative vision, while Apoorva Mehta, in his role as the Chief Executive Officer, will work with Johar in steering the strategic direction and overseeing the operational excellence of the organisation.

India's entertainment industry has experienced significant expansion, driven by surging digital penetration and a diverse audience seeking high-quality content across multiple platforms, with growing global relevance. This partnership between the two producyion houses is designed to capitalise on these opportunities. The collaboration aims to further transform content creation, distribution, and audience engagement.

Talking about the partnership, Poonawalla, said, "I am delighted to have the opportunity to partner with one of the most iconic production houses in our nation, along with my friend Karan Johar. We hope to build and grow Dharma and scale even greater heights in the years to come."

Commenting on the partnership, Johar, Executive Chairman of Dharma, stated, "From its inception, Dharma Productions has been synonymous with heartfelt storytelling that captures the essence of Indian culture. My father dreamed of creating films that would leave a lasting impact, and I've dedicated my career to expanding that vision. Today, as we join forces with Adar, a close friend and an exceptional visionary and innovator, we're poised to elevate Dharma's legacy to new heights. This partnership represents a perfect blend of our emotional storytelling prowess and forward-thinking business strategies. 

It's about honoring our roots while embracing the future of global entertainment. Dharma's journey has been remarkable, and this collaboration opens up a world of possibilities for creating content that will resonate across borders and generations."

Apoorva Mehta, CEO of Dharma, said, "Over the years, I've witnessed Dharma's transformation into a multi-faceted content powerhouse. This partnership with Adar realizes our vision and marks a new era where cinema, streaming, and global content converge. It enables us to explore new avenues in content creation and distribution, elevating the Indian entertainment ecosystem. More importantly, this investment allows us to take bigger creative steps."