# Business

Adar Poonawalla to acquire 50% stake in Karan Johar’s Dharma Productions

Johar will retain the remaining 50 per cent stake in Dharma and will continue to remain as the company’s Executive Chairman. Apoorva Mehta will remain as the Chief Executive Officer.

Statesman News Service | New Delhi | October 21, 2024 3:35 pm

Adar Poonawalla to acquire 50% stake in Karan Johar’s Dharma Productions

Serene Production, led by business tycoon Adar Poonawalla, is set to acquire a 50 per cent stake in Karan Johar’s Dharma Productions and Dharmatic Entertainment, for Rs 1,000 crore, the company said in a press release.

Johar will retain the remaining 50 per cent stake in Dharma and will continue to remain as the company’s Executive Chairman. Apoorva Mehta will remain as the Chief Executive Officer.

“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,” Poonawalla said.

By leveraging this synergy, Serene Productions and Dharma seek to meet the evolving demands of today’s digitally savvy consumers while pushing the boundaries of creative storytelling, the companies said in the release.

Together, they aspire to shape the future of entertainment for digital-first generations, embracing new platforms and formats to deliver compelling narratives that entertain, inspire, and engage audiences worldwide, they 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,” Karan Johar said on the development.

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.