Serum Institute CEO Poonawalla Buys 50% of Karan Johar's Dharma Productions for ₹1,000 Crore

Oct 21, 2024, 05:56 AM

Adar Poonawalla's Serene Productions, led by the CEO of India's largest Covid vaccine-maker, Serum Institute of India, has entered into a binding agreement to invest ₹1,000 crore ($119 million) for a 50% stake in Karan Johar's Dharma Productions and Dharmatic Entertainment. The deal, confirmed by Karan Johar, values the production companies at ₹2,000 crore and marks Poonawalla's significant entry into India's entertainment industry. Karan Johar will retain the remaining 50% ownership.