A statement from both the companies, Serene Productions and Dharma Productions highlighted the growing demand for high-quality content in India’s entertainment sector, driven by digital expansion and a diverse audience.

Author: Kunal Kothari

21 Oct,2024 03:00:24 PM

Dharma Productions sells 50% ownership to Aadar Poonawalla; Karan Johar to be executive chairman 922726

Adar Poonawalla’s Serene Productions has announced a Rs 1,000 crore investment in Karan Johar’s Dharma Productions and Dharmatic Entertainment. Under this deal, Serene Productions will acquire a 50% stake in Dharma, with Karan Johar retaining the other 50%. Johar will continue to lead the company’s creative direction as executive chairman, while CEO Apoorva Mehta will focus on strategic planning and operations.

A statement from the companies highlighted the growing demand for high-quality content in India’s entertainment sector, driven by digital expansion and a diverse audience. The partnership aims to combine Dharma’s expertise in storytelling with Poonawalla’s resources and business insight, leveraging advanced technology to enhance content creation, distribution, and audience engagement. The collaboration seeks to address the changing preferences of digital consumers and aims to produce innovative content for both Indian and global audiences.

Poonawalla expressed excitement about joining forces with Karan Johar and emphasized the potential for growth, stating, “Partnering with one of India’s most iconic production houses is a great opportunity, and I’m looking forward to building on Dharma’s success with Karan.” Johar echoed this sentiment, noting that the partnership marks a significant moment for Dharma’s future. He reflected on the company’s origins, emphasizing his father’s vision for impactful storytelling, and described the collaboration as a step forward for both creative and business innovation.

This partnership follows reports of Karan Johar considering selling a majority stake in Dharma Productions. In 2019, there were rumors that the Adani Group was in talks to acquire a stake in the company, though those discussions were later denied by Dharma Productions.

About The Author

Kunal Kothari

From operating in the entertainment industry for almost eight years, Kunal talks, walks, sleeps and breathes movies. Apart from critiquing them, he tries to spot things others tend to miss and is always up for a game of trivia about anything and everything on-screen and off-screen. Kunal rose through the ranks after joining as a journalist to being the editor, film critic and senior correspondent at India Forums. A team player and hard worker, he likes to have a cogent approach towards critical analysis, where you might find him on the field, ready for an insightful conversation about the movies.