Adar Poonawalla has acquired a 50% stake in Karan Johar’s Dharma Productions, contributing INR 1,000 crore to the company.
Karan Johar’s Dharma Productions made headlines after announcing a significant partnership with Adar Poonawalla’s Serene Productions. Poonawalla has acquired a 50% stake in Dharma Productions, contributing INR 1,000 crore to the company.
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This strategic move will help boost Dharma’s future projects and expand its influence in the film industry. Despite the acquisition, Karan Johar will retain his role as the Executive Chairman, and Apoorva Mehta will continue as the CEO, ensuring that the creative and operational direction of the company stays consistent.
Before this deal, Dharma Productions had been in talks with Reliance Industries for a potential stake sale, which would have been a significant merger in India’s media landscape. Reports indicated that Johar was seeking ways to monetize his stake, particularly as the Hindi film industry has faced challenges, including rising production costs, declining theatre attendance, and the increasing dominance of OTT platforms.
Dharma’s latest film, Jigra, starring Alia Bhatt, has also been embroiled in controversies over alleged inflated box office figures and script issues, further highlighting the pressures on the production house.
This partnership with Adar Poonawalla aims to strengthen Dharma’s position in a competitive market while bringing in fresh investment to support future ventures.
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Dharma Productions‘ recent financial performance showed a significant increase in revenue but also a drop in net profit due to higher expenses, making this partnership crucial for its long-term stability.