Serum Institute’s Adar Poonawalla acquires 50% of Dharma Prod, invests Rs 1000; Karan Johar REACTS

Half of Karan Johar’s Dharma Productions will be acquired by Adar Poonawalla of Serum Institute of India, Karan Johar has confirmed. It’s no secret that Dharma Productions was looking for an investor. Several names were associated with the deal. This includes Sa Re Ga Ma India. Now, Karan has confirmed that Adar has decided to acquire 50 percent of Dharma Productions. It is also said to be investing Rs 1,000 crore in Dharma Productions and Dharmatic Entertainment (collectively, “Dharma”).

The CEO of Covid-19 vaccine maker Serum Institute of India, Adar, is said to be investing in the company in a personal capacity. The investment is coming down through Serene Productions. The production house will hold a 50% stake in Dharma, with Karan Johar retaining the remaining 50% ownership. Karan will remain the creative spearhead of the company and will assume the role of executive chairman.

In a statement to the press, Adar confirmed the news of the partnership and said, “I am delighted to have the opportunity to associate with one of the most iconic production houses of our country, along with my friend Karan Johar. We look forward to building and growing Dharma and scaling even greater heights in the coming years.”

Commenting on the partnership, Karan Johar added, “Since its inception, Dharma Productions has been synonymous with heartfelt storytelling that captures the essence of Indian culture. My father dreamed of creating films that leave a lasting impact, and I have dedicated my career to expanding that vision. Today, as we join forces with Adar, a close friend and exceptional visionary, we are poised to take Dharma’s legacy to new heights. This partnership represents a perfect combination of the our emotional storytelling skills and forward-looking business strategies.

“It’s about honoring our roots while embracing the future of global entertainment. Dharma’s journey has been remarkable, and this collaboration opens up a world of possibilities to create content that resonates across borders and generations.” .

Apoorva Mehta, CEO, Dharma said, “Over the years, I have witnessed the transformation of Dharma into a multifaceted content powerhouse. This partnership with Adar realizes our vision and ushers in a new era where cinema, the streaming and global content are converging. It allows 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.”

The Raine Group served as Dharma’s exclusive financial advisor. AZB & Partners was the legal advisor to Dharma Productions. JSA served as legal counsel to Serene Productions.