Karan Johar‘s Indian production powerhouse Dharma Productions has major new investment.
The Koffee With Karan maker is selling 50% to its shares to Serene Productions, which is led by pharmaceutical tycoon Adar Poonawalla, for 1,000 crore ($120M). The binding agreement values Dharma, which comprises Dharma Productions and Dharmatic Entertainment, at around $240M.
Following the deal Johar, whose father Yash Johar founded Dharma back in 1979, will retain the remaining 50%. He will remain as Executive Chairman, spearheading the company’s creative vision, with Apoorva Mehta will stay as CEO.
“From its inception, Dharma Productions has been synonymous with heartfelt storytelling that captures the essence of Indian culture,” said Karan Johar. “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.
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“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 for creating content that will resonate across borders and generations.”
“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,” added Poonawalla. “We hope to build and grow Dharma and scale even greater heights in the years to come.”
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