Karan Johar sells 50% of Dharma Productions to Adar Poonawalla

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

Karan Johar as the executive chairman will spearhead the company's creative vision, while Apoorva Mehta, in his role as the chief executive officer, will work with Karan in steering the strategic direction and overseeing the operational excellence of the organisation.

This partnership between Serene Productions and Dharma is designed to capitalise on these opportunities by combining Dharma's legacy in storytelling with Adar Poonawalla's strategic acumen and resources. The collaboration aims to further transform content creation, distribution, and audience engagement by integrating advanced technologies and pioneering production methods.

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.

Talking about the partnership, Adar 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, Karan 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 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."