Serene Productions, led by Adar Poonawalla, CEO of vaccine manufacturer Serum Institute of India, announced on Monday that it will acquire a 50 per cent stake in film director Karan Johar’s Dharma Productions and Dharmatic Entertainment for Rs 1,000 crore.
The company has entered into a binding agreement to invest Rs 1,000 crore in the production houses Dharma Productions and Dharmatic Entertainment.
Serene Productions will subsequently hold a 50 per cent stake in Dharma, while Johar will retain the remaining 50 per cent ownership.
“Poonawalla’s investment values Dharma at Rs 2,000 crore. We hope to build and grow Dharma and scale even greater heights in the years to come,” Poonawalla said on the investment.
Regarding Serene Productions’ investment, Johar stated, “This partnership is a perfect blend of our forward-thinking business strategies and our expertise in telling compelling emotional stories. It’s about honouring our roots while embracing the future of global entertainment.”
According to the announcement, Johar will lead the company’s creative vision in his capacity as Executive Chairman, while Apoorva Mehta, in his role as Chief Executive Officer, will collaborate with Johar to drive the strategic direction and supervise operations.
Through the integration of modern technology and innovative production techniques, the partnership intends to further alter content development, distribution, and audience interaction.
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