Karan Johar’s company sells 50% stake to Poonawalla

Vaccine maker Serum Institute of India CEO Adar Poonawalla-led Serene Productions on Monday said it will pick 50 per cent stake in Karan Johar’s Dharma Productions and Dharmatic Entertainment for Rs 1,000 crore.

Serene Productions has entered into a binding agreement to invest Rs 1,000 crore in production house Dharma Productions and Dharmatic Entertainment (Dharma), the company said in a statement.

Subsequently, Serene Productions will hold a 50 per cent stake in Dharma, with Johar retaining the remaining 50 per cent ownership, it added.

“Poonawalla’s investment values Dharma at Rs 2,000 crore,” the statement said.

This alliance signifies a step toward elevating the Indian entertainment industry on the global stage, in an era where the relationship between audiences and entertainment platforms is more dynamic and interactive than ever before, the company said.