.jpg)
2 hours ago
1
Bollywood producer and director Karan Johar said he was “traumatized” by meetings leading up to the Dharma Productions deal with Adar Poonawalla, revealing the whirlwind negotiations that led to Poonawalla’s Serene Productions acquiring a 50% stake in Dharma.
Johar confessed that the high-stakes corporate lingo and complex deal terms had left him bewildered. Speaking at the CNBC-TV18 Global Leadership Summit, Johar shared that he was taken aback to learn his worth through the valuation process.
“I didn’t know I had a value,” he joked, adding that terms like “put,” “call,” and “drag-along rights” meant little to him. He recalled being in awe of Poonawalla, who, despite the long discussions leading up to the partnership, finalized the deal in a single Zoom session.
For Johar, the decision to bring Poonawalla on board stems from a vision to propel Dharma’s future. With this influx of funds, he aims to focus on mid-budget films and build a self-reliant production pipeline—projects that bring big returns without the financial dependency on outside studios.
On Poonawalla’s side, the move represents a small part of his vast business empire, built through Serum Institute, India’s vaccine manufacturing giant. In recent years, Poonawalla’s venture into diverse sectors has made him a key player, with the pandemic spotlighting Serum’s Covishield vaccine as a global product.
The Rs 1,000 crore stake in Dharma is viewed as a high-multiple investment, but analysts suggest that if one film hits big, it could significantly boost Dharma’s trajectory.
This partnership establishes a new structure at Dharma, with Johar as Executive Chairman and CEO Apoorva Mehta managing strategy. As Johar quipped about potentially renaming his banner “Pharma Productions” in Poonawalla’s honor, he seems ready to mix creativity with business savvy as they step into Dharma’s next phase.
English (US)