Amidst rumours floating around that Dharma Productions is going to undergo a buyout, it was announced on Monday that businessman Adar Poonawalla will be taking over 50 per cent stake in Karan Johar’s company.
As per a press release shared by Dharma, Adar’s Serene Productions will be investing Rs 1000 crore in Dharma, which includes Dharma Productions and the digital wing Dharmatic Entertainment. “Through this investment, Serene Productions will hold a 50% stake in Dharma, with Karan Johar retaining the remaining 50% ownership,” states the release.
Karan, however, will remain the Executive Chairman of the company while Apporva Mehta will continue to hold the position of Chief Executive Officer.
Talking about the partnership, 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.”
Karan added, "From its inception, Dharma Productions has been synonymous with heartfelt storytelling that captures the essence of Indian culture. My father dreamed of creating films that would leave a lasting impact, and I've dedicated my career to expanding that vision. 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.”