look news india
Mumbai: Due to continuously decreasing profits, Karan Johar has been looking for an investor for his Dharma production for a long time. Ultimately he sold 50 percent stake to Adar Poonawala for Rs 1000 crore. Adar Poonawala, who made vaccines including Covid as the owner of Serum Institute, will now also make films with Karan.
Karan Johar and Poonawala's company Serene Productions today officially announced stake in Dharma Productions and its digital content creation company Dharmatic Entertainment.
Under this deal, the value of Dharma Productions and Dharmatic Entertainment has been estimated at Rs 2000 crore. Karan Johar was looking for a big investor for some time.
Once his talks with Goenka Group company Saregama reached a critical stage but due to some reason the deal got stopped. Later there were rumors of Reliance Group buying Dharma Production Company.
Karan Johar's father Yash Johar had founded this production company in 1976. So far 50 films have been made under the auspices of this company. This includes films like Shahrukh, Kajol's 'Kuch Kuch Hota Hai' and Ranbir Deepika's 'Yeh Jawaani Hai Deewani'.
However, the net profit of this company was declining since last few years. Last year, the company's profit was only Rs 11 crore against the total revenue of Rs 1040 crore.