Karan Johars Indian production powerhouseDharma Productionshas major new investment.
The binding agreement values Dharma, which comprises Dharma Productions and Dharmatic Entertainment, at around $240M.
The companys revenues for 2022/23 financial year were about $124M.
Adar Poonawalla (left) is buying 50% of Dharmatic Entertainment, which is led by Apoorva Mehta (center) and Karan Johar (right)Serene Productions; Dharma Productions
Poonawalla is known as CEO of Serum Institute ofIndiaand chair of Poonawalla Fincorp.
Dharma and Serenes leaders say the deal will help position Dharma as a digital-first production biz.
This partnership represents a perfect blend of our emotional storytelling prowess and forward-thinking business strategies.
Its about honoring our roots while embracing the future of global entertainment.
We hope to build and grow Dharma and scale even greater heights in the years to come.
The Raine Group served as exclusive financial advisor to Dharma.
AZB & Partners served as the legal counsel to Dharma Productions.
JSA was legal counsel to Serene Productions.
