Entertainment

SII’s Adar Poonawala To Acquire Half Of Karan Johar’s Dharma Productions For This Whopping Amount

By
OB Bureau
October 21, 2024 11:35 am

New Delhi: Karan Johar has confirmed that Serum Institute of India’s Adar Poonawall will acquire half of his Dharma Productions, which was searching for an investor. Among those in the reckoning was Sa Re Ga Ma India. Poonawala will invest Rs 1000 cr into Dharma Productions and Dharmatic Entertainment (collectively, “Dharma”).

Following the investment, Serene Productions will hold a 50% stake in Dharma, with Karan Johar retaining the remaining 50% ownership. According to the Economic Times, Adar Poonawalla will make this investment in his private capacity through Serene Productions. The report added that after the deal, Karan Johar will remain the company’s creative spearhead, 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 honouring 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.”

Notably, 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.

OB Bureau

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By
OB Bureau
October 21, 2024 11:35 am

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