Adar Poonawalla, CEO of vaccine maker Serum Institute of India, will buy a 50% stake in filmmaker Karan Johar's Dharma Productions for 10 billion rupees ($119 million), the Bollywood studio said on Monday.

India's top vaccine maker has bought a 50% stake in a major Bollywood production company known for making popular films. Adar Poonawalla’s Serene Production will invest 10bn rupees ($119m; £91.3m) in Karan Johar's Dharma Productions and Dharmatic Entertainment for,

Adar Poonawalla, the chief of Serene Production, is all set to buy a 50% stake in Karan Johar’s Dharma Productions and Dharmatic Entertainment for ₹1,000 crore, as per a company press release. What Happened: Johar will continue to hold the remaining 50% stake in Dharma and retain his position as the company’s executive chairman.

Adar Poonawalla-led Serene Productions will buy a 50% stake in filmmaker Karan Johar's Dharma Productions for 10 billion rupees ($119 million), the latter said on Monday. ($1 = 84.0640 Indian rupees) (Reporting by Hritam Mukherjee in Bengaluru;

Serum Institute of India CEO Adar Poonawalla has bought 50 per cent stake in filmmaker Karan Johar’s entertainment company Dharma Productions.

Adar Poonawalla has outpaced competitors Reliance and Saregama in acquiring a 50 percent stake in Karan Johar’s Dharma Productions. The deal, worth Rs 1,000 crore, sees Poonawalla's Serene Entertainment becoming a major partner in one of India's major film production houses.

Adar Poonawalla is acquiring a 50% stake in Karan Johar's Dharma Productions for 1000 crore, allowing Johar to maintain creative control.