Adar Poonawalla-led Serene Productions on Monday announced that it has entered into a binding agreement to invest ₹1,000 crore in Karan Johar’s Dharma Productions and Dharmatic Entertainment and will own a 50 per cent stake.
“Through this investment, Serene Productions will hold a 50% stake in Dharma, with Karan Johar retaining the remaining 50% ownership,” it said in a statement.
Karan Johar as the Executive Chairman will spearhead the company’s creative vision, while Apoorva Mehta, in his role as the Chief Executive Officer, will work with Karan in steering the strategic direction and overseeing the operational excellence of the organization, it added. .
Poonawalla said, “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.”
“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,” the statement added.
Karan Johar, Executive Chairman of Dharma, stated, “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 perfectly blends our emotional storytelling prowess and forward-thinking business strategies.
The Raine Group was Dharma’s exclusive financial advisor to Dharma. AZB & Partners was Dharma Productions’ legal counsel. JSA served as the legal counsel to Serene Productions.
Apoorva Mehta, CEO of Dharma, said, “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.”