Adar Poonawalla, the CEO of Serum Institute of India (SII), announced on Monday that his company, Serene Productions, will acquire a 50 per cent stake in Dharma Productions, the prominent Bollywood production house led by renowned filmmaker Karan Johar.
The news, first reported by Reuters, revealed that Serene Productions is set to invest $119 million into Dharma Productions and its digital arm, Dharmatic Entertainment, valuing the company at $240 million.
Poonawalla expressed his excitement over the partnership, stating, “We hope to build and grow Dharma and scale even greater heights in the years to come.” His significant investment signals a bold move into the entertainment industry, aligning his interests in both innovative ventures and creative storytelling.
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Karan Johar will retain 50 per cent ownership and continue as the Executive Chairman of Dharma Productions. In a joint statement, Johar spoke about the significance of the partnership: “This partnership represents a perfect blend of our emotional storytelling prowess and forward-thinking business strategies. It’s about honoring our roots while embracing the future of global entertainment.”
Johar further added, “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.”
Dharma Productions, founded in 1976 by Karan Johar’s father, the late Yash Johar, has produced some of Bollywood’s most iconic films that have shaped the landscape of Indian cinema. Over the years, the company has built a reputation for creating films that resonate with audiences emotionally, while also pushing the boundaries of storytelling.
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One of the earliest masterpieces under the Dharma banner was Kabhi Kabhie (1976), produced by Yash Johar. In the 1990s, Karan Johar catapulted the company to even greater fame with Kuch Kuch Hota Hai (1998), which remains a cult classic.
Dharma further solidified its position in Bollywood with Kabhi Khushi Kabhie Gham (2001), a multi-generational family drama that earned widespread acclaim.
Other iconic hits from Dharma Productions include My Name is Khan (2010), which dealt with complex social issues, Student of the Year (2012), which introduced a new generation of stars, and Ae Dil Hai Mushkil (2016), a tale of love, heartbreak, and friendship. More recently, Brahmastra (2022) showcased Dharma’s foray into big-budget fantasy films.
With this new partnership, both Johar and Poonawalla aim to explore new avenues for storytelling, not just within Bollywood but also on a global stage. The investment is expected to bolster Dharma’s ability to produce a diverse range of content across films, web series, and digital platforms, cementing its place as one of India’s premier entertainment companies.
Apoorva Mehta, Dharma’s CEO, will continue working alongside Johar to steer the company’s strategic direction and operations. As the entertainment industry evolves, this collaboration signals a bright future for Dharma Productions, as it continues to craft stories that connect with audiences worldwide.
