Reliance Industries Update: Reliance Industries Limited, the company of the country’s rich industrialist Mukesh Ambani, can buy a stake in the production house Dharma Productions of veteran Bollywood film producer Karan Johar. If this deal is done, then this will be the first time when Reliance Industries will also enter content production. Karan Johar wants to sell his stake in his production company Dharma Productions, but talks with the companies with which he was earlier discussing the valuation have not yielded any concrete results.
Mukesh Ambani will buy stake in Dharma Productions!
According to the report of Economic Times, Saregama India Limited was planning to buy majority stake in Dharma Productions, the news of which came to light last week. But now talks are going on to buy the stake of Reliance Industries in Dharma Productions. However, other things regarding this deal are yet to be revealed. Karan Johar holds 90.7 percent stake in Dharma Productions while 9.24 percent stake is with his mother Hiroo Johar. Dharma Productions has produced many big and successful films in Bollywood.
Reliance’s growing steps!
Apart from Jio Studio, Viacom18 Studio, Reliance Industries also has stake in Balaji Telefilms in its media and content portfolio. Jio Studio is currently the largest film studio in the country which had recorded a box office collection of Rs 700 crore in 2023-24. The company has produced the film Stree 2 with Maddock Films, which is the highest-grossing Hindi film in history so far.
Report of conversation with Saregama!
Earlier, reports had come out that talks are going on with Saregama’s parent group RP Sanjiv Goenka Group to sell the stake of Dharma Productions. But in a regulatory filing with BSE on October 8, 2024, Saregama said that the company always keeps reviewing different strategic opportunities for the growth and expansion of the business. However, at this time there is no such information which is required to be disclosed under the disclosure regulations of SEBI.
Dharma Productions’ revenue increased
The revenue of Dharma Productions increased four times to Rs 1040 crore in the financial year 2022-23, which was Rs 276 crore in the previous financial year 2021-22. However, the profit declined by 59 percent and was Rs 11 crore.
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