Entertainement News: Karan Johars Dharma Productions has announced a significant partnership with Adar Poonawalla, CEO of Serum Institute of India. Karan confirmed that Poonawalla has acquired a 50% stake in Dharma Productions, marking a monumental collaboration in the Indian entertainment industry. The acquisition comes with an investment of Rs 1000 crore into Dharma Productions and its digital arm, Dharmatic Entertainment.Who is Adar PoonawallaAdar Poonawalla serves as the CEO of the Serum Institute of India, renowned as the largest vaccine manufacturer in the world by volume. Born on January 14, 1981, he is the son of Cyrus Poonawalla, who established the Serum Institute. Under Adars guidance, the Serum Institute has seen remarkable growth, emerging as a pivotal player in the global battle against infectious diseases.He garnered significant attention during the COVID-19 pandemic for his role in producing and distributing the AstraZeneca vaccine. Recognized for his innovative mindset and strategic vision, Poonawalla is shaping the future of the biotech sector. His recent investment in acquiring a 50% stake in Dharma Productions marks a new chapter, reflecting his ambition to broaden his business interests and influence Indias cultural landscape.The partnership detailsAdar Poonawalla, known for leading the worlds largest vaccine manufacturer, is making this investment through his personal venture, Serene Productions. Under this agreement, Serene Productions will hold 50% of Dharma, while Karan Johar will retain the remaining share. Karan will continue to lead Dharma as the creative spearhead and take on the role of Executive Chairman.Expressing his excitement, Adar Poonawalla stated, “I am delighted to partner with one of the most iconic production houses in our nation, along with my friend Karan Johar. We hope to scale new heights with Dharma and create lasting impact in the entertainment world.” Karan Johar echoed this enthusiasm, sharing, “This partnership with Adar is a perfect blend of our storytelling and forward-thinking strategies. Together, we will honor our roots while embracing the future of global entertainment.”Dharmas vision moving forwardApoorva Mehta, CEO of Dharma Productions, emphasized the new possibilities this partnership opens up for Indian cinema. “This investment allows us to take bigger creative steps in the evolving landscape of cinema, streaming, and global content.” The Raine Group served as the exclusive financial advisor for Dharma, while legal counsel was provided by AZB & Partners and JSA for the respective parties.
