After this deal, Karan Johar will retain about 50% stake in Dharma Productions.
Adar Poonawala's Serene Productions will acquire 50% stake in Karan Johar's Dharma Productions and Dharmatic Entertainment. This deal will be for Rs 1,000 crore. Today i.e. on Monday (21 October) the company gave this information.
After this deal, Karan Johar will have about 50% stake in Dharma. Currently, Johar holds 90.7% stake in Dharma and his mother Hiru holds 9.24% stake. Even after the deal, Karan Johar will remain the executive chairman of the company. Apoorva Mehta will also remain the CEO.
Poonawala's investment will strengthen Dharma financially
This collaboration aims to transform content creation, distribution and audience engagement by integrating advanced technologies and production methods in India's fast-changing entertainment industry. Poonawala's investment will strengthen Dharma financially.
Karan Johar said – will take the legacy to new heights
On this partnership, Karan Johar said- 'Dharma is always known for heart-touching story-telling. With Adar, a close friend and visionary, we are set to take the Dharma legacy to new heights.'
Poonawala said- happy on partnership with production house
Adar Poonawala said, 'I am happy to partner with my friend Karan Johar on one of the most prestigious production houses of our country. We hope to touch even greater heights in the years to come.
Adar Poonawala is the CEO of Serum Institute, which makes Covid vaccine.
Yash Johar established Dharma Productions in 1976.
Dharma Productions was founded in 1976 by Yash Johar. Under the leadership of Karan Johar, it has become a powerhouse in Bollywood, having produced more than 50 films including blockbusters like Kabhi Khushi Kabhie Gham, Yeh Jawaani Hai Deewani and 2 States.
The company is also known for launching young actors from many film families, including Alia Bhatt and Varun Dhawan. In 2018, it expanded into digital content with Dharmatik Entertainment. Made shows for platforms like Netflix, Amazon.
- Dharma Production's revenue increased by 276.8% year-on-year to Rs 1,040 crore in FY 2023. A year ago i.e. in the financial year 2022, the revenue of the production house was Rs 276 crore.
- The company's total revenue in FY23 includes Rs 656 crore from distribution rights, Rs 140 crore from digital, Rs 83 crore from satellite rights and Rs 75 crore from music.
- However, due to increase in expenses, the company's net profit declined by 59% to Rs 11 crore. The company spent Rs 1028 crore on its needs during the financial year.
Poonawala is the CEO of Serum Institute, which makes Covid vaccine.
Poonawala has a diversified business portfolio. Apart from entertainment, his business is in sectors like financial services, real estate and hospitality. Adar Poonawala is also the CEO of Serum Institute, which manufactures the Covid vaccine.
Graphics Source: VaskarAssets
