Karan Johar’s Dharma Productions sells 50% shares to Adar Poonawalla

Filmmaker Karan Johar’s Film and television production company, Dharma Production, just sold off 50% of its stake to Vaccine maker Adar Poonawalla at Rs. 1000 crores, elevating the total value of the company to Rs. 2000 crores. 

90.7% of the production company used to be owned by Karan, and 9.3% by his mother, Hiroo. However, the ownership is set to change after this deal. A formal announcement is expected within this week. Even after the deal, Karan Johar is set to be the Executive Chairman of the company, having control over all creative decisions. Apoorva Mehta will remain as the Chief Executive Officer of the production house.

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Poonawalla made this investment through the Serene Productions. The investment is said to provide the company with the necessary funds to produce content for digital consumers while creating new stories for the big screen. This financial deal will also let the production company explore different ideas and formats for their films.

According to reports, Dharma Production needed some investment to deal with the unpredictable nature of the box office. The deal between Karan and Adar is considered a smart one, as both the families have been in close ties for years.

Dharma Production was started by Yash Johar in 1976, making its first film, Dostana, featuring Amitabh Bachchan. Karan Johar and his team took over the company after his death and have been managing it ever since. Karan directed his first film, Kuch Kuch Hota Hai, at 25, after which he went on to direct some of the biggest hits. The company in 2018, launched Dharmatic Entertainment to capture the ever-growing streaming market.