In a major development, Adar Poonawalla-led Serene Productions has invested Rs 1,000 crore in acquiring a 50% stake in Karan Johar-owned Dharma Productions and Dharmatic Entertainment. This strategic partnership will surely bolster the position of Dharma in the Indian Entertainment Industry by building up its legacy of creating some of the most iconic films in Bollywood.
Chief of the Serum Institute of India and head of Serene Productions Poonawalla added, “I am very excited to be partnering with one of India’s most iconic production houses. Along with my friend Karan Johar, we aspire to take Dharma to newer heights in the years to come.” His investment has opened up a whole new chapter in the evolution of Dharma Productions. Aiming at expanding its creative and business reach in an ever-changing film industry.
The new scheme would leave Karan Johar with a 50% stake in Dharma Productions. He would also remain the Executive Chairman, while Apoorva Mehta would continue as Chief Executive Officer-so the leadership. And operations of the company would remain intact.
Karan Johar commented on the development: “Since its inception, Dharma Productions has been synonymous with heartfelt storytelling that captures the essence of Indian culture. This association is a seal of our pledge to create relevant cinema.” He further paid obeisance to his late father, Yash Johar, who envisioned Dharma Productions to make films that would endure an age. “My father dreamt of films that would continue to echo in the hearts of audiences for generations. And I’ve dedicated my career to making that dream a reality,” shared Johar.
He went on to trumpet this new alliance: “In joining hands with Adar-a true visionary. And an extremely close friend-we are combining our strengths in emotional storytelling. And innovative business strategies to carry forward the Dharma legacy,” he added.
Dharma Productions was founded by Yash Johar in 1976. And since then has produced some of the most unforgettable and successful films in Bollywood. Kuch Kuch Hota Hai, Kabhi Khushi Kabhie Gham, Brahmastra: Part One – Shiva, and Rocky Aur Rani Ki Prem Kahani. This new deal will see the company continue to grow. And be one of the most successful in both the Indian and global film markets. Together, both Dharma Productions and Serene Poonawalla Productions raise the bar not only for the cinematic experience. But for the industry in general.
ANI