Adar Poonawalla-led Serene to pick 50% stake in Karan Johar's production firm for Rs 1,000 cr

New Delhi: Vaccine maker Serum Institute of India CEO Adar Poonawalla-led Serene Productions on Monday said it will pick 50 per cent stake in Karan Johar's Dharma Productions and Dharmatic Entertainment for Rs 1,000 crore.

Serene Productions has entered into a binding agreement to invest Rs 1,000 crore in production house Dharma Productions and Dharmatic Entertainment (Dharma), the company said in a statement.

Subsequently, Serene Productions will hold a 50 per cent stake in Dharma, with Johar retaining the remaining 50 per cent ownership, it added.

"Poonawalla's investment values Dharma at Rs 2,000 crore," the statement said.

This alliance signifies a transformative step toward elevating the Indian entertainment industry on the global stage, in an era where the relationship between audiences and entertainment platforms is more dynamic and interactive than ever before, the company said.

"This strategic partnership between Serene Productions and Dharma is designed to capitalise on these opportunities by combining Dharma's rich legacy in storytelling with Adar Poonawalla's strategic acumen and resources," it said.

Commenting on the investment, Poonawalla said, "We hope to build and grow Dharma and scale even greater heights in the years to come." On the investment by Serene Productions, Johar said, "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." Under the new structure, Johar as the Executive Chairman will spearhead the company's creative vision, while Apoorva Mehta, in his role as the Chief Executive Officer, will work with Johar in steering the strategic direction and overseeing the operations, the statement said.

The collaboration aims to further transform content creation, distribution, and audience engagement by integrating advanced technologies and pioneering production methods, it added.

The development comes at a time when India's entertainment industry has experienced significant expansion, driven by surging digital penetration and a diverse audience seeking high-quality content across multiple platforms, with growing global relevance, the company said.

Dharma Productions is one of India's leading film production and distribution companies, founded by late Yash Johar in 1976. Dharmatic Entertainment is the digital content arm of Dharma Productions.