Karan Johar sells 50% stake in Dharma Productions to Adar Poonawalla’s Serene Productions

In a significant development in the Indian film industry, Karan Johar has sold a 50% stake in his renowned production house, Dharma Productions, to Adar Poonawalla’s Serene Productions. The announcement comes amid speculations about Dharma Productions facing financial difficulties, with initial rumors suggesting a potential sale to Mukesh Ambani-led Reliance Industries.

Investment Details: Rs 1,000 Crore for 50% stake

On Monday, October 21, 2024, Dharma Productions and Serene Entertainment released a joint statement confirming the investment. Serene Productions has entered into a binding agreement to invest INR 1,000 crore in Dharma Productions and Dharmatic Entertainment, collectively known as Dharma. With this investment, Serene Productions will acquire a 50% stake, while Karan Johar will retain the other half of the ownership.

Leadership Structure

Karan Johar will continue as the Executive Chairman, spearheading the company's creative vision, while Apoorva Mehta, the Chief Executive Officer, will collaborate with Johar to guide the strategic direction and oversee operations.

Adar Poonawalla's vision for the partnership

Adar Poonawalla expressed his excitement about the partnership, stating, “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.”

Karan Johar reflects on Dharma's legacy and future

Johar reflected on the significance of the partnership, noting, “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.”

A new era for Dharma Productions: Exploring creative opportunities

Apoorva Mehta added, “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.”