According to the news agency Reuters, Serum Institute of India (SII) CEO Adar Poonawalla announced on Monday that his company, Serene Productions, will purchase a 50% share in Dharma Productions, run by well-known Bollywood producer and director Karan Johar.
According to a statement from Serene Productions, the anticipated investment in the production company Dharma Productions and Dharmatic Entertainment (Dharma) is Rs 1,000 crore ($119 million). The statement further stated that Dharma is worth Rs 2,000 crore thanks to Poonawalla’s investment.
Poonawalla stated on Monday, “We hope to build and grow Dharma and scale even greater heights in the years to come.”
Johar, who also serves as the executive chairman of the company, will keep 50% of the remaining business. “This collaboration is the ideal fusion of our innovative commercial tactics and our talent for crafting powerful stories. Following the announcement, he stated, “It’s about embracing the future of global entertainment while honouring our roots.”
In his capacity as CEO, Apoorva Mehta is supposed to collaborate with Johar to manage operations and set the strategic direction.
Karan Johar is the CEO of Dharma Productions, which his father and filmmaker Yash Johar founded in 1976. Previously, Karan Johar owned 90.7% of the company, while his mother, Hiroo Johar, owned 9.24%.
