KJo reveals how Dharma changed after Poonawalla acquisition
What's the story
Filmmaker Karan Johar recently sold a 50% stake in his production company, Dharma Productions, to billionaire Adar Poonawalla for ₹1,000 crore. The deal was made through Poonawalla's company Serene Productions and now gives him equal ownership of the studio. In a recent interview with Komal Nahta on the YouTube channel Game Changers, Johar opened up about this decision and its implications for future projects.
Expansion plans
Funding issues led to the decision
Johar revealed that he had many unfulfilled dreams due to funding issues. "I was very clear that I am okay to sell 50% of my company or to sell equity, only because I want to expand," he said. He also emphasized the importance of having the right partner for this expansion, which he found in Poonawalla.
Personal ties
Friendship with Poonawalla played a crucial role
The filmmaker revealed that his close friendship with Poonawalla and his wife Natasha played a crucial role in this deal. "Adar and Natasha have been my close friends, very dear to me," Johar said. He added that when Poonawalla expressed interest in investing, he initially hesitated because he thought it wasn't his business, but later realized they both wanted to expand.
Management praise
Johar lauds Apoorva Mehta's management of Dharma Productions
Johar also lauded Apoorva Mehta, the Executive Chairman and CEO of Dharma Productions, for managing the business side of things. "Apoorva is the most correct human. Our accounts are perfect down to the last rupee," he said. He added that Mehta runs Dharma like a well-oiled machine and has been instrumental in his success.
New focus
'There was never accountability before this...'
Johar admitted that the deal has forced him to think about profitability. "There was never accountability before this, I just learned the term quarter," he said. He added that Mehta keeps him in check by reminding him not to pursue projects that aren't profitable. Despite this shift, Johar emphasized his commitment to artistic integrity and making films for creative satisfaction.
Future plans
Uncertainty about future projects
Johar also expressed uncertainty about his future projects, particularly after the critical acclaim of Homebound. "I made Homebound, worldwide critically acclaimed, but I can't say if I'll take such decisions in the future or not," he said. He added that while he will always prioritize artistic expression, it's equally important to consider commercial viability.