On Monday (21st October), Adar Poonawalla-owned Serene Productions announced that it has acquired a 50% stake in Dharma Productions, owned by Karan Johar, for a whopping ₹1000 crore. Poonawalla is also the CEO of the Serum Institute of India (SII).
Dharma Productions is valued at ₹2000 crore. The acquisition is aimed at expanding production and building franchises. Karan Johar will work as the Executive Chairman while Apoorva Mehta will be the Chief Executive Officer.
In a statement, it said, “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.”
#BREAKING 🚨Serum Institute's Adar Poonawalla led Serene Productions to buy 50% stake for 1,000 crore in Karan Johar’s Dharma Productions⚡️#DharmaProductions #KaranJohar #AdarPoonawalla pic.twitter.com/EfbinvtA6z
— Moneycontrol (@moneycontrolcom) October 21, 2024
“The collaboration aims to further transform content creation, distribution, and audience engagement by integrating advanced technologies and pioneering production methods,” it further added.