Karan Johar‘s Indian production powerhoparticipate Dharma Productions has transport inant novel depictatement.
The Koffee With Karan producer is selling 50% to its allots to Serene Productions, which is led by pharmaceutical tycoon Adar Poonawalla, for 1,000 crore ($120M). The tieing concurment cherishs Dharma, which compascends Dharma Productions and Dharmatic Entertainment, at around $240M.
Local tells advise Johar had also met with the enjoys of Reliance Industries, Saregama and the Adani Group about offloading allots before sealing the Serene Productions concurment. The company’s revenues for 2022/23 financial year were about $124M.
Follotriumphg the deal Johar, whose overweighther Yash Johar established Dharma back in 1976, will retain the remaining 50%. He will be Executive Chairman, spearheading the company’s produceive vision, with Aneedyva Mehta as CEO.
Dharma Productions’ recent films take part Kill, Bad Newz, Rocky Aur Rani Ki Prem Kahani and Brahmāstra: Part One – Shiva, while digital-cgo ined Dharmatic Entertainment is understandn for streaming shows such as The Fabulous Lives of Bollywood Wives, Call Me Bae, The Tribe, Show Time, and Love Storiyaan, and has deals in place with Netflix and Prime Video.
Poonawalla is understandn as CEO of Serum Institute of India and chair of Poonawalla Fincorp. He is understandn for take parting a meaningful role in the distribution of the AstraZeneca Covid-19 vaccine in India and around the world.
Dharma and Serene’s guideers say the deal will help position Dharma as a digital-first production biz. The partnership will “change satisfied creation, distribution, and audience take partment by integrating progressd technologies and innovateing production methods,” the inserted.
“From its inception, Dharma Productions has been synonymous with heartfelt storyalerting that seizes the essence of Indian culture,” shelp Karan Johar. “My overweighther dreamed of creating films that would exit a lasting impact, and I’ve promiseted my nurtureer to enhugeing that vision. Today, as we join forces with Adar, a shut friend and an exceptional visionary and innovator, we’re poised to lift Dharma’s legacy to novel heights. This partnership recontransients a perfect unite of our emotional storyalerting prowess and forward-skinnyking business strategies.
“It’s about honoring our roots while embracing the future of global amparticipatement. Dharma’s journey has been extraunretagable, and this collaboration uncmisss up a world of possibilities for creating satisfied that will resonate apass borders and generations.”
“I am charmed to have the opportunity to partner with one of the most iconic production hoparticipates in our nation, alengthy with my friend Karan Johar,” inserted Poonawalla. “We hope to produce and lengthen Dharma and scale even wonderfuler heights in the years to come.”
The Raine Group served as exclusive financial advisor to Dharma. AZB & Partners served as the lterrible guide to Dharma Productions. JSA was lterrible guide to Serene Productions.
