Adar Poonawalla led Serene Production will acquire 50 percent 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 percent stake in Dharma, and will continue to remain as the company’s Executive Chairman. Apoorva Mehta will remain as the Chief Executive Officer.
“India’s entertainment industry has experienced significant expansion, driven by surging digital penetration and a diverse audience seeking high-quality content across multiple platforms, with growing global relevance. This strategic partnership between Serene Productions and Dharma is designed to capitalize on these opportunities by combining Dharma’s rich 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,” the release 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,” 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. 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,” the companies said in the release.
This alliance signifies a transformative step toward elevating the Indian entertainment industry on the global stage, in an era where the relationship between audiences and entertainment platforms is more dynamic and interactive than ever before.
“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,” Johar said.
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.
“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,” Apoorva Mehta said.
See Also: Karan Johar Puts An End To Pre-Release Screenings For Media At Dharma Productions: ‘It’s A Necessary Step’
