The sale of a 50% stake in Karan Johar’s Dharma Productions to Adar Poonawalla’s Serene Productions made waves on social media. Despite the buzz, both Karan and Adar presented a united front as they attended fashion designer Manish Malhotra’s star-studded Diwali party on Tuesday evening.
Karan and Adar at Diwali Celebration
Videos shared by paparazzi on Instagram showed Karan Johar, Adar Poonawalla, and Dharma Productions CEO Apoorva Mehta arriving together at Manish Malhotra’s residence. Karan donned a red sherwani, while Adar and Apoorva matched in black sherwanis. Actor Varun Dhawan, who made his debut with Dharma Productions in 2012, warmly greeted the trio and even shared a joke with Adar, making him laugh.
The three posed together for the paparazzi, with Karan guiding Adar on how to pose for the cameras. Karan insisted Adar stand between him and Apoorva for the pictures. Later, Karan posed solo at the request of the paparazzi, with Adar and Apoorva stepping aside.
The Dharma Productions Deal
On Monday, it was announced that Adar Poonawalla’s Serene Productions would acquire a 50% stake in Dharma Productions, including its digital wing Dharmatic Entertainment, for ₹1,000 crore. This deal values Dharma at ₹2,000 crore. Following the investment, both Karan and Adar will hold equal ownership in the production company.
Speaking about the investment, Adar expressed his optimism, stating, “We hope to build and grow Dharma and scale even greater heights in the years to come.” Karan also shared his enthusiasm, saying, “This partnership represents a perfect blend of our emotional storytelling prowess and forward-thinking business strategies. It’s about honouring our roots while embracing the future of global entertainment.” Karan will now serve as Executive Chairman of Dharma Productions.
Legacy of Dharma Productions
Founded in 1976 by Karan’s late father, Yash Johar, Dharma Productions is one of India’s leading film production and distribution companies. The new partnership aims to elevate the company’s global presence while continuing its legacy of storytelling.