Karan Johar’s Dharma Productions is in the spotlight, with reports suggesting that Mukesh Ambani’s Reliance Industries Limited (RIL) is exploring a potential minority stake acquisition in the renowned Bollywood production house. This move aligns with RIL’s strategy to bolster its entertainment portfolio, which already includes investments in Jio Studios, Viacom18, and Balaji Telefilms.
While no official confirmation has been made, sources reveal that Johar has been seeking strategic investors for some time, driven by the challenges of rising production costs and shifting audience preferences towards OTT platforms. Previous talks with other parties, including Saregama India, owned by the RP Sanjiv Goenka Group, have reportedly stalled over valuation disagreements.
Karan Johar, who owns 90.7% of Dharma Productions (with the remaining stake held by his mother, Hiroo Johar), aims to bring in new capital to transition from a personality-driven operation to a more professionally managed business model.
Reliance’s involvement could not only secure financial stability for Dharma but also further expand RIL’s influence in India’s growing entertainment sector.
Amid all these developments, Dharma Productions updated its social media bio to emphasize that it remains “Owned by Karan Johar & CEO Apoorva Mehta,” signaling Johar’s intent to retain control despite ongoing negotiations.
Meanwhile, Dharma’s latest release, Jigra featuring Alia Bhatt, has struggled at the box office, underscoring the growing need for sustainable business models in Bollywood.