Karan Johar selling a 50% stake in his banner Dharma Productions to vaccine maker Serum Institute of India CEO Adar Poonawalla-led Serene Productions caused ripples on social media. However, both Karan and Adar put up a united front on Tuesday evening as they arrived and posed together at the star-studded Diwali bash of fashion designer Manish Malhotra. 

Karan, Adar attend Diwali party together

Paparazzi accounts on Instagram shared videos of Karan, Adar, and Dharma Productions CEO Apoorva Mehta arriving together at Manish Malhotra's residence for the grand Diwali party. While Karan wore a red sherwani, Adar and Apoorva twinned in black sherwanis. Actor Varun Dhawan, who was incidentally launched by Dharma Productions back in 2012, hugged and greeted the three of them as they entered. He even cracked up Adar with a joke whispered in his ear.

The three leaders of Dharma Productions then posed together for the paparazzi, with Karan insisting that Adar stands between him and Apoorva. Karan also guided Adar on how to pose for the cameras one by one. The paparazzi then insisted Karan pose solo as well, and Adar asked him to comply as he and Apoorva left the frame.

Dharma Productions deal

Adar's Serene Productions on Monday said it will pick 50 per cent stake in Karan's Dharma Productions and its digital wing Dharmatic Entertainment for ₹1,000 crore. Subsequently, Serene Productions will hold a 50 per cent stake in Dharma, with Karan retaining the remaining 50 per cent ownership. Adar's investment values Dharma at ₹2,000 crore.

Commenting on the investment, Adar said, “We hope to build and grow Dharma and scale even greater heights in the years to come.” On the investment by Serene Productions, Karan said, “This partnership represents a perfect blend of our emotional storytelling prowess and forward-thinking business strategies. It's about honouring our roots while embracing the future of global entertainment.” Karan will now serve as the Executive Chairman at Dharma Productions.

Dharma Productions is one of India's leading film production and distribution companies, founded by Karan's late father Yash Johar in 1976.

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