Adar Poonawalla's Serene Productions is acquiring a 50% stake in Karan Johar's Dharma Productions and Dharmatic Entertainment for ₹1,000 crore.
Johar will retain the remaining 50 percent stake in Dharma and will continue to remain as the company's Executive Chairman. Apoorva Mehta will continue as the Chief Executive Officer.
JSA advised Serene Productions on this stake acquisition deal.
The transaction team consisted of Iqbal Khan (Partner), Devika Menon (Partner), Tarini Sardesai (Senior Associate) and Gunjan Singh (Associate) .
AZB & Partners advised Dharma Productions and promoters Karan Johar and Apoorva Mehta on this transaction.
The transaction team consisted of Nandish Vyas (Senior Partner), Devika Nayak (Partner), Disha Mantry (Associate) and Vikrant Dwivedi (Associate) on the deal, with support from Aayushi Rout (Associate) for the Due Diligence and Bharat Budholia (Partner) for Competition Law.
Here is a press release from Dharma Productions
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