October 21, 2024: Adar Poonawalla-led Serene Productions announced an investment of ₹1,000 crore in Karan Johar’s Dharma Productions and its digital content wing, Dharmatic Entertainment, on Monday. This strategic partnership grants Serene Productions 50% ownership stake in the newly combined entity, while the remaining 50% will continue to be held by Johar.
“This partnership with Adar realizes our vision and marks a new era where cinema, streaming, and global content converge,” said Apoorva Mehta, CEO of Dharma Productions. “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.”
Under this collaboration, Karan Johar will lead the creative direction as Executive Chairman, while Mehta will focus on shaping the strategic objectives and operational excellence of the production house.
Adar expressed his enthusiasm for this venture, stating, “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.”
Adar Poonawalla’s Serene Productions Makes a Strong Foray in Entertainment Sector
Johar, reflecting on the partnership, shared, “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.”
The Raine Group served as the exclusive financial advisor for Dharma Productions, while AZB & Partners acted as legal counsel for the production house. JSA provided legal counsel for Serene Productions, ensuring a smooth transaction.
As the entertainment landscape continues to evolve, this collaboration is set to enhance the creative fabric of Indian cinema, merging innovative business strategies with profound storytelling.
