New Delhi: Serum Institute of India CEO Adar Poonawalla-led Serene Productions on Monday confirmed that it will pick 50 per cent stake in Karan Johar’s Dharma Productions and Dharmatic Entertainment for Rs 1,000 crore. The company released a statement saying that Serene Productions has formalised a binding agreement to invest Rs 1,000 crore in production house Dharma Productions and Dharmatic Entertainment (Dharma).
Serene Productions will hold a 50 per cent stake in Dharma, with the ‘Kuch Kuch Hota Hai’ director retaining the remaining 50 per cent ownership, the statement read. “Poonawalla’s investment values Dharma at Rs 2,000 crore,” the statement added.
“We hope to build and grow Dharma and scale even greater heights in the years to come,” Poonawalla said on the investment.
On the investment by Serene Productions, Johar said, “This partnership represents a perfect blend of our emotional storytelling prowess and forward-thinking business strategies. It’s about honouring our roots while embracing the future of global entertainment.” Under the new structure, 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 Johar in steering the strategic direction and overseeing the operations,” the statement said.
The statement said the collaboration of Serene Productions and Dharma Productions aims to integrate advanced technologies and transform content creation, audience engagement and distribution.
Earlier, reports had claimed that Reliance Industries (RIL) was in talks to acquire a stake in Karan Johar’s Dharma Productions.
