Serum Institute Of India’s Adar Poonawalla is all set to acquire 50% stake in Dharma Productions which was started by Karan Johar. According to reports, Johar will continue to be the company’s Executive Chairman and his partner Apoorva Mehta will remain the Chief Executive Officer and help Johar to steer the strategic directions of the company and oversee the operations. The investment in the production house Dharma Productions and Dharmatic Entertainment (Dharma) is expected to be Rs 1,000 crore ($119 million), Serene Productions said in a statement. “Poonawalla’s investment values Dharma at Rs 2,000 crore,” the statement added.
“We hope to build and grow Dharma and scale even greater heights in the years to come,” Poonawalla said on Monday.
The remaining 50 per cent ownership is to be retained by Johar. “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,” he said after the announcement. Dharma Productions was founded in 1976 by Karan Johar’s father, Yash Johar. The production house is instrumental in producing some of the biggest blockbusters in Bollywood including Kuch Kuch Hota Hai, Kabhi Khushi Kabhie Gham, Student Of The Year and Rocky Ranii Ki Prem Kahaani among others. The ownership structure previously involved 90.7 per cent by Karan Johar and 9.24 per cent by his mother, Hiroo Johar. (Agencies)
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