"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,” said vaccine manufacturer Serum Institute of India’s chief executive officer Adar Poonawalla. His company Serene Productions has purchased for Rs 1,000 crore a 50% stake in veteran Bollywood filmmaker Johar’s Dharma Productions, known for hits such as Kuch Kuch Hota Hai and Kabhi Khushi Kabhie Gham.
Karan Johar (l) and Adar Poonawalla: "perfect blend”
"We hope to build and grow Dharma and scale even greater heights in the years to come,” Poonawalla said in a statement announcing the deal, that was reported in the Mint of December 19, 2024.
Commented Johar: "Today, as we join forces with Adar, a close friend and an exceptional visionary and innovator, we’re poised to elevate Dharma’s legacy to new heights. This partnership represents a perfect blend of our emotional story telling prowess and forward thinking business clarities. It’s about honoring our roots while embracing the future of global entertainment,” stated a report in The Hindu dated October 21.
According to the financial intelligence firm Tofler, the studio recorded a profit of Rs 11 crore (USD 1.26 million) in the financial year 2023 on revenue of Rs 1,044.16 crore (USD 120.48 million).
"Johar’s studio is not the only one that has been angling for investors and more such deals are on the horizon for the content production industry,” noted Mint.