Adar Poonawalla Acquires 50% Stake In Karan Johar’s Dharma

Serene Productions, led by Adar Poonawalla entered into a binding agreement to invest Rs 1,000 crore in Karan Johar's Dharma Productions and Dharmatic Entertainment, collectively known as 'Dharma'. As a result of this investment, Serene Productions will acquire a 50 per cent stake in Dharma while Johar will retain the other 50 per cent.

As Executive Chairman, Johar will guide the company's creative vision while Apoorva Mehta will serve as Chief Executive Officer, collaborating with Johar to steer the strategic direction and oversee the organisation’s operational excellence.

Talking about the partnership, Adar Poonawalla 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.”

India's entertainment industry is booming, driven by digital growth and a diverse audience seeking premium content across platforms. The partnership combines Dharma's storytelling legacy with Poonawalla's strategic expertise to transform content creation, distribution and audience engagement using advanced technologies and innovative production methods.

Commenting on the partnership, Karan Johar, Executive Chairman of Dharma stated, "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 honouring 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."

By harnessing this synergy, Serene Productions and Dharma aim to address the evolving needs of today's digitally savvy consumers while pushing the limits of creative storytelling. Together, they aspire to shape the future of entertainment for digital-first generations, embracing new platforms and formats to deliver captivating narratives that entertain, inspire and engage audiences globally.

Apoorva Mehta, CEO of Dharma said, “Over the years, I've witnessed Dharma's transformation into a multi-faceted content powerhouse. This partnership with Adar realizes our vision and marks a new era where cinema, streaming, and global content converge. It enables us to explore new avenues in content creation and distribution, elevating the Indian entertainment ecosystem. More importantly, this investment allows us to take bigger creative steps.”

The alliance marks a transformative step in enhancing the Indian entertainment industry on the international stage, during a time when the interaction between audiences and entertainment platforms is increasingly dynamic and interactive.

The Raine Group acted as the exclusive financial advisor to Dharma, with AZB & Partners serving as its legal counsel. JSA provided legal counsel to Serene Productions.