(Reuters) -Adar Poonawalla, CEO of vaccine maker Serum Institute of India, will buy a 50% stake in filmmaker Karan Johar’s Dharma Productions for 10 billion rupees ($119 million), the Bollywood studio said on Monday.
Poonawalla will buy the stake through his production company, Serene Productions. This is his first major investment outside the pharma sector since 2021, when he bought a 20% stake in social media platform Wakau Interactive.
“The collaboration aims to further transform content creation, distribution, and audience engagement by integrating advanced technologies and pioneering production methods,” the statement said.
The deal values Johar’s Dharma, which produced celebrity talk show “Koffee with Karan” and films such as ensemble family drama “Kabhi Khushi Kabhie Gham” and spy thriller “Raazi”, at 20 billion rupees.
($1 = 84.0640 Indian rupees)
(Reporting by Hritam Mukherjee in Bengaluru; Editing by Janane Venkatraman)
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