Vaccine Maker to Film Maker: Serum's Adar Poonawala to invest in Karan Johar's production company
Serene Productions has entered into a binding agreement to invest Rs 1,000 crore in production house Dharma Productions and Dharmatic Entertainment (Dharma)
Written By : Farhat Nasim
Published On 2024-10-21 10:01 GMT | Update On 2024-10-21 10:01 GMT
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New Delhi: Vaccine maker Serum Institute of India CEO Adar Poonawalla-led Serene Productions on Monday said it will pick 50 per cent stake in Karan Johar's Dharma Productions and Dharmatic Entertainment for Rs 1,000 crore.
Serene Productions has entered into a binding agreement to invest Rs 1,000 crore in production house Dharma Productions and Dharmatic Entertainment (Dharma), the company said in a statement.
Subsequently, Serene Productions will hold a 50 per cent stake in Dharma, with Johar retaining the remaining 50 per cent ownership, it added.
"Poonawalla's investment values Dharma at Rs 2,000 crore," the statement said.
"We hope to build and grow Dharma and scale even greater heights in the years to come," Poonawalla said on the investment.
On the investment by Serene Productions, Johar said, "This partnership represents a perfect blend of our emotional storytelling prowess and forward-thinking business strategies. It's about honouring our roots while embracing the future of global entertainment." Under the new structure, Johar as the Executive Chairman will spearhead the company's creative vision, while Apoorva Mehta, in his role as the Chief Executive Officer, will work with Johar in steering the strategic direction and overseeing the operations, the statement said.
The collaboration aims to further transform content creation, distribution, and audience engagement by integrating advanced technologies and pioneering production methods, it added.
The development comes at a time when India's entertainment industry has experienced significant expansion, driven by surging digital penetration and a diverse audience seeking high-quality content across multiple platforms, with growing global relevance, the company said.
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