Karan Johar's Dharma Productions has sold a 50 percent stake to Adar Poonawalla's Serene Production.

Mumbai, October 21, 2024: Adar Poonawalla's Serene Production has signed an agreement to invest ₹1,000 crore in Karan Johar's Dharma Productions and Dharmatic Entertainment.

As part of this deal, Serene Production has acquired a 50 percent stake in Dharma Productions and Dharmatic Entertainment for ₹1,000 crore.

"I am thrilled to partner with one of the most iconic production houses in our country, alongside my friend Karan Johar. We aim to build and grow Dharma, reaching even greater heights in the years ahead," stated Adar Poonawalla in a statement from Dharma Productions.

Karan Johar will retain a 50 percent stake in Dharma Productions and will continue as the company's Executive Chairman, while Apoorva Mehta remains the Chief Executive Officer.

Karan Johar shared his thoughts on the partnership, saying, "Since its inception, Dharma Productions has been synonymous with heartfelt storytelling that embodies Indian culture."

He referenced his father Yash Johar's dream of creating films that make a lasting impact, stating, "My father envisioned making films that would leave an enduring impression, and I have dedicated my career to realizing that vision."

"Today, as we join forces with Adar, a close friend and an exceptional visionary and innovator, we are set to elevate Dharma's legacy to new heights. This partnership perfectly combines our emotional storytelling abilities with forward-thinking business strategies," he concluded regarding the collaboration.

Dharma Productions is renowned for films such as "Kuch Kuch Hota Hai," "Kabhi Khushi Kabhie Gham," "Kill," "Bad Newz," "Rocky Aur Rani Ki Prem Kahani," "Brahmastra: Part One - Shiva," among others.