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Adar Poonawalla to announce another major non-pharma investment by end of 2024?
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Adar Poonawalla•Serum Institute of India•Karan Johar•Dharma Productions•Dharmatic Entertainment•Serene Productions•Poonawalla
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Official announcements from Adar Poonawalla or Serene Productions, verified by major financial news outlets
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Adar Poonawalla's First Major Non-Pharma Investment: Acquires 50% of Dharma Productions for INR 1,000 Crore
Oct 21, 2024, 06:37 AM
Adar Poonawalla, CEO of the Serum Institute of India, has entered into a binding agreement to acquire a 50% stake in Karan Johar's Dharma Productions and Dharmatic Entertainment through his company Serene Productions. The investment amounts to INR 1,000 crore, valuing the film production house at INR 2,000 crore. The acquisition, confirmed via a company release, marks Poonawalla's first major investment outside the pharmaceutical sector since 2021. Karan Johar will retain the remaining 50% ownership in Dharma Productions. This strategic move signifies Poonawalla's significant entry into the entertainment industry.
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