Mumbai: Billionaire Adar Poonawalla has officially acquired a 50 per cent stake in renowned filmmaker Karan Johar’s Dharma Productions, according to media reports. The stake was purchased by Poonawalla’s Serene Entertainment for approximately Rs 1,000 crore.
Poonawalla, who also serves as the CEO of the Serum Institute of India, expressed his enthusiasm 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, the executive chairman of Dharma Productions, reflected on the partnership, saying, “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,” he added.
Prior to this acquisition, Reliance and Saregama were considered the leading contenders for the 50 percent stake in Dharma Productions.