Half of Karan Johar’s Dharma Productions will be acquired by Serum Institute of India’s Adar Poonawalla, Karan Johar has confirmed. It is no secret that Dharma Productions was searching for an investor. Several names were associated with the deal. This includes Sa Re Ga Ma India. However, Karan has now confirmed that Adar has decided to acquire 50 percent of Dharma Productions. It is also said that he will be investing Rs 1000 cr into Dharma Productions and Dharmatic Entertainment (collectively, “Dharma”).
The CEO of the Covid-19 vaccine maker, Serum Institute of India, Adar is said to be investing in the company in his personal capacity. The investment is being down via Serene Productions. The production house will hold a 50% stake in Dharma, with Karan Johar retaining the remaining 50% ownership. Karan will remain as the creative spearhead of the company, and will take on the role of Executive Chairman.
In a statement to the press, Adar confirmed the partnership news and 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, Karan Johar added, “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.”
The Raine Group served as the exclusive financial advisor to Dharma. AZB & Partners served as the legal counsel to Dharma Productions. JSA served as the legal counsel to Serene Productions.
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