Adar Poonawalla buys 50% stake in Karan Johar's Dharma Productions

Days after speculation ran rife that Reliance Industries and Saregama were respectively looking at was acquiring a stake in Dharma Productions, or Saregama looking to buy a majority stake in the production house, the Karan Johar-led company has sold its 50% stake to Adar Poonawalla’s Serene Productions. With this investment, the total valuation of Dharma Productions stands at INR 2,000 crores.

Serene Productions has entered into a binding agreement to invest INR 1,000 crores into the production house, Dharma Productions and Dharmatic Entertainment. Following the deal, Karan Johar will retain the balance 50% ownership in the company. Continuing as the executive chairman, he will lead the company’s creative vision, while Apoorva Mehta, in his role as the chief executive officer, will steer the organisation’s strategic direction and operations.

The investment by Serene Production in Dharma Productions aims at expanding large-scale, multi-lingual productions, building franchises, and elevating traditional entertainment formats. With this deal, the two promoters plans to combine Poonawalla’s business knowledge and resources with Dharma’s legacy in creative storytelling to meet the evolving demands of today’s digitally savvy consumers. According to a press statement, the collaboration aims to transform content creation, distribution, and audience engagement by integrating advanced technologies and new production methods.

The alliance is being described as a step toward pushing the Indian entertainment industry on to the global stage, in an era when entertainment platforms are becoming more dynamic and interactive than ever before. Commenting on the partnership, Poonawalla said, “I am delighted to have the opportunity to partner with one of the most iconic production houses in India, along with my friend Karan Johar. We hope to build and grow Dharma and scale even greater heights in the years to come.”

Dharma Productions' executive chairman, Johar, added, “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 have dedicated my career to expanding that vision. Today, as we join forces with Adar, a close friend and a visionary and innovator, we are poised to elevate Dharma’s legacy to new heights. This partnership represents a blend of our emotional storytelling prowess and forward-thinking business strategies. It’s about honouring our roots while embracing the future of global entertainment.”

Apoorva Mehta, CEO of Dharma Productions, said, “Over the years, I’ve witnessed Dharma’s transformation into a multi-faceted content powerhouse. The partnership with Adar 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.”