Billionaire Adar Poonawalla, CEO of the Serum Institute of India, is set to acquire a 50% stake in Karan Johar’s Dharma Productions and its digital arm, Dharmatic Entertainment, for ₹1,000 crore, the company said in a press release.
The deal values the entire production house at ₹2,000 crore, signaling further consolidation in India’s entertainment industry.
Poonawalla is making this investment privately through Serene Productions, while Dharma Productions will retain the remaining 50% stake. Karan Johar will continue as Executive Chairman, overseeing creative direction, and Apoorva Mehta will remain the CEO.
India’s entertainment industry has seen remarkable growth, fueled by increasing digital penetration and a diverse audience demanding high-quality content across various platforms, while also gaining global prominence. This strategic partnership between Serene Productions and Dharma aims to leverage these opportunities by combining Dharma’s rich storytelling heritage with Adar Poonawalla’s strategic insight and resources, according to the release.
The collaboration seeks to revolutionize content creation, distribution, and audience engagement by incorporating advanced technologies and innovative production techniques.
“I’m thrilled to partner with one of the most iconic production houses in the country, alongside my friend Karan Johar. We look forward to expanding and elevating Dharma to new heights in the years ahead,” said Poonawalla.
By harnessing this collaboration, Serene Productions and Dharma aim to meet the growing demands of today’s digitally savvy consumers while expanding the frontiers of creative storytelling. Together, they aspire to shape the future of entertainment for digital-first generations by embracing new platforms and formats that deliver captivating narratives to entertain, inspire, and engage global audiences, the companies stated in the release.
This partnership marks a transformative step in elevating India’s entertainment industry on the world stage, at a time when the relationship between audiences and entertainment platforms is becoming increasingly dynamic and interactive.
“Dharma Productions has always been synonymous with heartfelt storytelling that captures the essence of Indian culture. My father dreamt of creating films that would leave a lasting impact, and I’ve spent my career expanding on that vision. Now, as we join forces with Adar, a close friend and a visionary innovator, we’re ready to take Dharma’s legacy to new heights. This partnership combines our emotional storytelling expertise with forward-thinking business strategies,” said Johar.
