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Poonawala picks 50% in Dharma Productions for Rs 1K cr
Latest announcement from Serum Institute ends speculation that RIL acquiring stake in loss-making Dharma Productions
Adar Poonawala
New Delhi: Vaccine maker Serum Institute of India on Monday said it will pick 50 per cent stake in Karan Johar’s Dharma Productions and Dharmatic Entertainment for Rs1,000 crore.
Since last few days speculations were doing rounds that Karan Johar’s Dharma Productions is in loss and he is looking to sell some of his stakes to Mukesh Ambani-led Reliance Industries (RIL).
However it’s not Reliance, but Adar Poonawala-led Serene Productions that acquired a 50 percent stake in Karan Johar’s Dharma.
Serene Productions has entered into a binding agreement to invest Rs1,000 crore in production house.
