Adar Poonawalla-led (on right in picture) Serene Productions today (21st October) announced that it has entered into an agreement to invest Rs. 1,000 crore into Karan Johar’s Dharma Productions and Dharmatic Entertainment for a 50% stake in the production banners. Karan Johar retains the balance 50%.
As its executive chairman, Karan will spearhead the company’s creative vision while Apoorva Mehta, in his role as the CEO, will work with him in steering the strategic direction and overseeing the operational excellence of the organisation.
A press release, issued by Dharma, says, “The alliance signifies a transformative step towards elevating the Indian entertainment industry on the global stage in an era where the relationship between the audience and entertainment platforms is more dynamic and interactive.”
Speaking about the deal, Adar 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.” Johar commented, “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.”