Adar Poonawalla to acquire 50% stake in Karan Johar’s Dharma Productions for Rs 1,000 crore

October 21, 2024: Adar Poonawalla’s Serene Productions announced an investment of Rs 1,000 crore in Karan Johar’s Dharma Productions and Dharmmatic Entertainment. The strategic deal will see Serene Productions acquire 50% of Dharma’s shares, while Johar will retain ownership of the remaining 50%.

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Adar Poonawalla expressed his enthusiasm for the collaboration: “I am delighted to be working with one of India’s most iconic production houses and my friend Karan Johar Collaboration. We look forward to growing and expanding Dharma Productions to reach greater heights in the coming years.”

Karan Johar also shared his excitement, saying, “From the very beginning, Dharma Productions has been focused on telling heartfelt stories that resonate with Indian culture. My father’s vision was Create films that make lasting impressions, and I am committed to expanding that dream, with the addition of my dear friend Adar, a brilliant innovator and visionary. , we will take Dharma’s legacy to the next level with this partnership that combines our emotional storytelling with forward-thinking business strategy.”

Dharma Productions has been looking for investment partners and is in talks with several large conglomerates. The company’s revenue grew significantly four-fold to Rs 1,040 crore in FY23, up from Rs 276 crore in the previous year. However, despite revenue growth, net profit fell 59% to Rs 11 crore due to higher overall expenses. The company’s revenue sources for FY23 include Rs 656 crore from distribution rights, Rs 140 crore from digital platforms, Rs 83 crore from satellite rights and Rs 75 crore from music.