In a significant move, Adar Poonawalla, CEO of Serum Institute of India, has acquired a 50% stake in Karan Johar’s renowned production house, Dharma Productions. The deal, worth ₹1,000 crore, was made through Poonawalla’s company, Serene Productions. This partnership is expected to bring fresh momentum to the Bollywood studio, known for its iconic films. Karan Johar will retain the remaining stake in the company, which was started by his father, Yash Johar, in 1976.
Excitement Over the New Partnership
Expressing his excitement, Adar Poonawalla shared, “I am thrilled to partner with my close friend Karan Johar and his incredible production house. Together, we aim to take Dharma Productions to even greater heights in the years to come.” Poonawalla, known for leading the world’s largest vaccine manufacturer, aims to bring his business acumen into the entertainment industry.
Karan Johar also welcomed this partnership, stating, “Dharma Productions has always been committed to telling impactful stories rooted in Indian culture. With Adar on board, we are ready to bring our vision to new heights, blending emotional storytelling with innovative business strategies.”
A New Era for Dharma Productions
This deal comes at a crucial time for Dharma Productions, which has been a leading name in Indian cinema for decades. Despite its rich legacy, the studio has faced challenges in recent times. In the financial year 2022-23, Dharma Productions reported a revenue of ₹1,044 crore, with a profit of ₹10.69 crore. Poonawalla’s investment is expected to provide the necessary boost to the studio’s future projects.
Previously, there were speculations about Saregama India and Reliance Industries showing interest in acquiring a stake in Dharma Productions. However, Adar Poonawalla’s Serene Productions sealed the deal, setting the stage for an exciting new chapter for the Bollywood powerhouse.
