Reliance Industries to acquire stake in Dharma Productions; report

Reliance Industries Ltd. (RIL) is reportedly in discussions to acquire a stake in Karan Johar’s Dharma Productions, as detailed in a recent Economic Times report. Should the deal materialize, it would bolster Reliance's influence in India's entertainment landscape, complementing its existing ventures like Jio Studios and Viacom18 Studios.

Dharma Productions, which Karan Johar controls with a 90.7% stake, alongside his mother Hiroo Johar's 9.24%, is actively seeking strategic collaborations. The studio is facing challenges such as escalating production costs, declining theater attendance, and the rise of over-the-top (OTT) platforms, which have intensified the need for new investments in Bollywood.

“Karan Johar has been exploring ways to monetize his stake for some time, but previous deals failed due to valuation issues,” a source with knowledge of the earlier negotiations stated, as reported by Economic Times.

Adgully was unable to independently confirm this news.