Dharma Productions sells 50% of stake to Covid-19 vaccine maker Adar Poonawalla. He has invested Rs 1000 crore.
Karan Johar has confirmed that Adar Poonawalla of the Serum Institute of India will acquire 50% of Dharma Productions. Dharma had been seeking an investor for some time, with several names, including Sa Re Ga Ma India, being linked to the deal. However, Karan has now revealed that Poonawalla will invest Rs 1000 crore into both Dharma Productions and Dharmatic Entertainment (Dharma).
Reacting to the 50% acquisition, Karan Johar said, “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. It’s about honoring our roots while embracing the future of global entertainment. Dharma’s journey has been remarkable, and this collaboration opens up a world of possibilities for creating content that will resonate across borders and generations.”
In a statement to the press, Adar Poonawalla confirmed the partnership and 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.”