MUMBAI : Adar Poonawalla-led Serene Production has entered into an agreement to invest Rs 1,000 crore in Karan Johar’s Dharma Productions and Dharmatic Entertainment.

Serene Production has acquired a 50 per cent stake in Karan Johar’s Dharma Productions and Dharmatic Entertainment, for Rs 1,000 crore.

“I am delighted to have the opportunity to partner with one of the most iconic production houses in our nation, along with my friend Koran Johar We hope to build and grow Dharma and scale even greater heights in the years to come,” said Adar Poonawalla in a statement shared by Dharma Productions.

Karan Johar will retain a 50 per cent stake in Dharma productions. He will continue to remain as the company’s Executive Chairman and Apoorva Mehta will remain as the Chief Executive Officer.

Karan Johar, Executive Chairman of Dharma, shared his insight about the partnership,” From its inception, Dharma Productions has been synonymous with heartfelt storytelling that captures the essence of Indian culture.”

He talked about his father Yash Johar’s dream of making movies with long-lasting impact and said, “My father dreamed of creating films that would leave an Iasting impact, and I’ve dedicated my career to expanding that vision.”

“Today, as we join/forces with Adar, a close friend and an exceptional visionary and innovator, we’re poised to elevate Dtiamia’s legacy to new heights. This partnership represents a perfect blend of our emotional storytelling prowess and forward-thinking business strategies,” he concluded while talking about the partnership.

Dharma Productions is known for films like ‘Kuch Kuch Hota Hai’, ‘Kabhi Khushi Kabhhie Gham’, ‘Kill’, ‘Bad Newz’, ‘Rocky Aur Rani Ki Prem Kahani’, ‘Brahmastra: Part One – Shiva’, and many more. (ANI)