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.
“We hope to build and grow Dharma and scale even greater heights in the years to come,” Poonawalla said on the investment.
On the investment by Serene Productions, Johar said, “This partnership represents a perfect blend of our emotional storytelling prowess and forward-thinking business strategies. It’s about honouring our roots while embracing the future of global entertainment.”