According to people with knowledge of the matter, the entertainment industry is currently experiencing a wave of consolidation, with billionaire vaccine manufacturer Adar Poonawalla, CEO of the Serum Institute of India, acquiring a 50% stake in Dharma Production and Dharmatic Entertainment for a sum of Rs 1000 crore. This acquisition values Karan Johar’s film and television production and distribution company at Rs 2000 crore.
Through Serene Productions, Poonawalla is financing this initiative in his individual capacity. Dharma will keep the remaining ownership, and Johar, as Executive Chairman, will continue to lead the company’s creative efforts. The company’s chief executive officer is still Apoorva Mehta.
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