Adar Poonawalla owned Serum Institute is going to invest Rs 1,000 to acquire a stake in Karan Johar’s Dharma Production.
Serum Institute owner Adar Poonawalla, whose company provided the country with the COVID-19 vaccine during the pandemic, is again making headlines. He is planning to enter the entertainment industry by striking a major deal with Karan Johar. As per several reports, Seren Productions is planning to buy a 50 percent stake in Dharma Productions Private Limited. The deal is going to cost him Rs 1,000 crore, which is valued at Rs 2,000 crore.
Rs 1,000 Crore Deal
Adar Poonawalla is going to invest Rs 1,000 to acquire a stake in Karan Johar’s company. After finalising the deal, Karan will continue as executive chairman of Dharma Productions with his 50 percent stake. Notably, Apurva Mehta will remain as the Chief Executive Officer of the company, as per Economic Times report.
What Does Adar Poonawalla Say?
Responding on the deal, Serum Institute stated that Seren Productions is all set to enter into an agreement to invest Rs 1,000 crore in Dharma Productions and Dharmaatic Entertainment (Dharma). After the deal the company will hold 50 percent stake in Dharma, while Karan Johar will retain the 50 percent ownership. The statement mentioned that Poonawalla’s investment values Dharma at Rs 2,000 crore.
Poonawalla expressed optimism regarding the deal with Karan Johar’s production house, ensuring of taking it to greater heights in the coming years. Johar said the partnership is an ideal blend of their ability to present visionary business strategies.
Mukesh Ambani Was Also in the Race
According to a report by the Economic Times, Mukesh Ambani, before Adar Poonawalla, was in line for a potential takeover of Karan Johar’s Dharma Productions. Several reports suggest that there were conversations between Reliance Industries Limited (RIL) and Karan Johar on acquiring stake in Dharma Productions. Imagine the impact on the entertainment ecosystem if this deal gets sealed. Ambani’s influences would not only deepen, but his existing stakes in Jio Studios and Viacom18 Studios would gain strength as well.
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