New Delhi: Karan Johar’s Dharma Productions has been on the lookout for investors for a while now. Previous media reports suggested that Saregama valued the company at Rs 600 crore and was set to take over major stakes. But, an official press statement from the company says otherwise.
The new developments confirm that Adar Poonawalla, CEO of Serum Institute of India, is set to acquire a major stake in Karan Johar’s Dharma Productions. Not only the theatrical space, but its digital content arm, Dharmatic Entertainment, is also under the deal.
Dharma Productions secures major deal
The deal between Adar Poonawalla and Dharma Production is worth Rs 1000 crore. In an official press release, the company revealed that Adar Poonawalla’s Serene Productions will be acquiring 50 per cent of the stakes in the company while Karan Johar will own the remaining other half. In addition to this, the statement read that Karan Johar will remain as Dharma Productions’ Executive Chairman while Apoorva Mehta will stay as the CEO.
This ambitious deal aims to capitalise on Serene Productions and Dharma’s by combining their resources. While speaking about the collaboration, Adar Poonawalla said, “I am delighted to have the opportunity to partner with one of the most iconic production houses in our nation, along with my friend Karan Johar. We hope to build and grow Dharma and scale even greater heights in the years to come.” On the other hand, Karan Johar expressed his delight about joining forces with Adar and hopes to elevate Dharma Prducation’s legacy to new heights.
As per media reports, Dharma Productions revenue for the financial year 2024, fell by 83 percent to Rs 111 crore. Meanwhile, the earnings from satellite rights decreased by 15 per cent to Rs 70 crore. So, Karan Johar’s Dharma reportedly dropped nearly 50 per cent reaching Rs 520.20 crore as compared to Rs 1,044 crore in 2023. Therefore, this new deal might as well be Dharma’s saviour.
Comments are closed.