Adar Poonawalla buys 50 per cent stake in Karan Johar’s Dharma for Rs 1,000 crore

NEW DELHI: Billionaire Adar Poonawalla-led Serene Productions has entered into a binding agreement to invest Rs 1,000 crore into Karan Johar’s Dharma Productions and Dharmatic Entertainment (collectively, “Dharma”), one of India’s leading production houses.

Through this investment, Serene Productions will hold a 50% stake in Dharma, with movie producer and director Karan Johar retaining the remaining 50% ownership.

The stake purchase by Poonawalla comes amidst rumours that Mukesh Ambani’s Jio Cinema was exploring to invest in Dharma.

Karan Johar will continue to be the Executive Chairman and spearhead the company’s creative vision. Apoorva Mehta, in his role as the Chief Executive Officer, will work with Karan in steering the strategic direction and overseeing the operational excellence of the organization.