Adar Poonawalla’s Serene Productions has announced its acquisition of a 50 percent stake in Karan Johar’s Dharma Productions and Dharmatic Entertainment for Rs 1,000 crore.
Karan Johar will keep the other 50 percent stake and will continue as Executive Chairman, while Apoorva Mehta will remain the Chief Executive Officer.
The Indian entertainment sector is rapidly growing, fueled by increased digital access and a varied audience seeking quality content. This partnership aims to leverage Dharma’s storytelling legacy and Poonawalla’s strategic expertise to capitalize on these market trends.
The collaboration intends to revolutionize content creation and distribution by incorporating advanced technologies and innovative production techniques.
Poonawalla expressed excitement about partnering with Dharma, emphasizing the goal of building the brand and achieving greater success in the future.
By combining their strengths, Serene Productions and Dharma aim to address the needs of today’s digital consumers and enhance creative storytelling, aspiring to influence the future of entertainment for tech-savvy generations.
This partnership represents a significant move toward enhancing the Indian entertainment industry’s global presence, especially as audience engagement with entertainment platforms evolves.
Johar highlighted Dharma Productions’ commitment to impactful storytelling rooted in Indian culture, expressing enthusiasm about the partnership with Poonawalla to elevate Dharma’s legacy further.
The Raine Group acted as the financial advisor for Dharma, while AZB & Partners and JSA provided legal counsel for Dharma Productions and Serene Productions, respectively.
Mehta noted that this partnership with Poonawalla marks a new era for Dharma, blending cinema, streaming, and global content, and allowing for greater creative exploration within the Indian entertainment landscape.
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