Vaccine man acquires 50% stake in KJo's company for 1000 Crores

Karan Johar’s Dharma Productions has sold 50% of its stake to Serene Productions, led by Adar Poonawalla, sources confirmed. While the specific financial details of the deal are yet to be disclosed, this significant move marks a new chapter for one of Bollywood's most prominent production houses.

Adar Poonawalla, popularly known as the Vaccine Man of India after his Serum Institute of India developed Covishield during the pandemic, had previously taken over non-banking finance company Magma Fincorp Ltd (Magma) and changed its name to Poonawalla Fincorp Limited.

Recently, Poonawalla-promoted Rising Sun Holdings purchased commercial space, including offices, at Building B1 of the Cerebrum IT Park in Pune's Kalyaninagar suburb for Rs 395 crore. In recent years, the Poonawalla group has expanded its real estate business, especially in Pune. It partnered with the Pune-based developer Panchshil Realty to set up the Business Bay in Pune's Yerwada suburb, as well as a hotel adjacent to it, with the hotel being managed under the Ritz-Carlton brand.

Expressing his excitement about the partnership, Adar Poonawalla said, "I am delighted to have the opportunity to partner with one of the most iconic production houses in our nation, along with my friend Karan Johar. We hope to build and grow Dharma and scale even greater heights in the years to come."

Earlier, reports surfaced that Dharma Productions was seeking to sell minority stakes. Discussions were held with several parties, including Saregama and Reliance Industries Limited (RIL), before finalizing the deal with Poonawalla. Top leaders from Dharma Productions and Reliance met as recently as Friday to explore the potential partnership, though the deal did not materialize.

Adar Poonawalla holds a degree in biotechnology and management from the University of Westminster. He played a key role in the leadership of the company after he became the CEO of The Serum Institute of India in 2011. His wealth is estimated at ₹1.83 lakh crore according to Forbes. His wife, Natasha Poonawalla who acts as the Executive Director of the Serum Institute of India, is also the CEO of Pune-based SII. She is also the chairperson of her family’s foundation Villoo Poonawalla Foundation which focuses on philanthropic causes like healthcare, education, environment conservation and cleanliness, etc. She holds a Master of Science degree in Organisational Behaviour from the London School of Economics.

The Lincoln House is an abode to the entire Poonawalla family in Mumbai. The house was purchased in 2015 from the US government and is located in Mumbai’s Breach Candy Area. This opulent mansion was purchased by the Serum Institute of India owner for approximately Rs 934 crores. Adar Poonawalla and his wife, Natasha Poonawalla live in Adar Abad Poonawalla House in Pune which is their permanent residence. In 2023, Adar made a purchase worth 138 million pounds (Rs. 1,400 crores) of a mansion in London’s Mayfair, the Aberconway House.