Billionaire Adar Poonawalla, CEO of the Serum Institute of India, has acquired a 50% stake in Karan Johar's Dharma Productions, one of the most renowned film production houses in the country, through his private company, Serene Entertainment. 

The acquisition, valued at Rs 1,000 crore, positions Dharma Productions at an overall valuation of Rs 2,000 crore. Karan Johar will retain the remaining 50% ownership, continuing his role as the Executive Chairman and creative head of the company, while Apoorva Mehta will remain as the CEO.

Founded by Yash Johar in 1976, Dharma Productions has become a powerhouse in Indian cinema, producing a long list of critically acclaimed and commercially successful films, such as ‘Kuch Kuch Hota Hai’, ‘Kabhi Khushi Kabhie Gham’, and ‘Brahmāstra: Part One – Shiva’. Recent releases include ‘Kill’, ‘Bad Newz’, and ‘Rocky Aur Rani Ki Prem Kahani’, which continue to highlight the company's stronghold in the industry.

The acquisition underscores the ongoing wave of consolidation within the Indian entertainment industry. Dharma Productions had reportedly been in discussions with various large conglomerates, including Reliance Industries, Jio Cinema, and Sanjiv Goenka’s Saregama. 

Dharma Productions has witnessed significant financial growth in recent years. According to data from Tofler, its revenue for FY23 reached Rs 1,040 crore, up from Rs 276 crore in the previous year. However, net profit fell by 59% due to a rise in expenses. The company’s earnings came from multiple streams, including distribution rights (Rs 656 crore), digital (Rs 140 crore), satellite rights (Rs 83 crore), and music (Rs 75 crore), reflecting a marked improvement.