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Karan Johar 's Dharma Productions is known for producing some of Bollywood's most iconic and successful films. Recently, there has been speculation that Karan Johar's Dharma Productions is facing losses, and he is considering selling a portion of his stakes to Mukesh Ambani's Reliance Industries . However, it's not Reliance but Adar Poonawala led Serene Productions that acquired a fifty percent stake in Karan Johar's Dharma.
On Monday, 21st October Karan Johar's Dharma and Adar Poonawalla 's Serene Entertainment released a joint statement stating "Adar Poonawalla led Serene Productions today announced that it has entered into a binding agreement to invest INR 1,000 crore into Karan Johar's Dharma Productions and Dharmatic Entertainment (collectively, "Dharma"), India's leading production house." "Through this investment, Serene Productions will hold a 50% stake in Dharma, with Karan Johar retaining the remaining 50% ownership. Karan Johar as the Executive Chairman will spearhead the company's creative vision, while Apoorva Mehta , in his role as the Chief Executive Officer, will work with Karan in steering the strategic direction and overseeing the operational excellence of the organization.
Speaking about the same, Adar Poonawalla, 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." Statement added.
Commenting on the partnership, Karan Johar, Executive Chairman of Dharma, stated, "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." Apoorva Mehta, CEO of Dharma, said, "Over the years, I've witnessed Dharma's transformation into a multi-faceted content powerhouse. This partnership with Adar realizes our vision and marks a new era where cinema, streaming, and global content converge.
It enables us to explore new avenues in content creation and distribution, elevating the Indian entertainment ecosystem. More importantly, this investment allows us to take bigger creative steps." While on Karan, his movie Student of the Year (SOTY), that came out in 2012, starring Alia Bhatt, Sidharth Malhotra, and Varun Dhawan celebrated its 12th anniversary on October 19.
To mark the occasion, Karan Johar took to his social media and shared some unseen pictures with Alia, Siddhartha, and Varun from 'Student OF The Year' celebrating 12 years of 'SOTY'. Sharing the picture, he wrote, "Let's start with..
.there's something about 'today', something very special!!! 12 years, and I look back at the film I embarked on, solely to have the best time of my life. And the best time, it was! #SOTY" Karan also shared a group picture with Kajol Devgan, Niranjan Iyengar, Manish Malhotra, and Mickey Contractor.
Additionally, he shared a video in which he could be heard saying, "SOTY is to me to celebrate everything that I love about cinema, the youth, the gen, the zing, the music, the energy, the comic timing, everything that I always love about Hindi cinema is part of the student of the year.".
