Wednesday, November 13, 2024

Adar Ponawalla, the CEO of Serum Institue of India, acquires 50% stake in Dharma Productions owned by Karan Johar

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.”

“The collaboration aims to further transform content creation, distribution, and audience engagement by integrating advanced technologies and pioneering production methods,” it further added.