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In an exciting development, Adar Poonawala’s Serene Productions announced today (October 21) that it has entered a binding agreement to invest a staggering 1000 crore into prolific filmmaker-producer Karan Johar’s Dharma Productions and Dharmatic Entertainment. As a result of this investment, Serene Productions will hold a 50% stake in Karan Johar’s Dharma Productions, India’s leading production house. While Karan will be retaining the remaining 50% ownership.
Karan Johar will spearhead the company’s creative vision as the Executive Chairman, while CEO Apoorva Mehta, along with the director-producer, will oversee the organization’s operational excellence. Over the years, the entertainment industry has undergone significant changes with a high demand for quality content amongst the masses. The association of Adar Poonawala’s Serene Productions and Karan Johar’s Dharma Productions will aim to cater to this change. It will be a fine amalgamation of Dharma’s rich legacy in storytelling along with Serene Productions’ strategic resources.
Talking about the partnership with Karan Johar’s Dharma Productions, Adar Poonawala 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.” While Karan Johar is hopeful that this collaboration will elevate Dharma Productions to new heights. He said, “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. This partnership represents a perfect blend of our emotional storytelling prowess and forward-thinking business strategies.”
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