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- Mukesh Ambani Karan Johar; Reliance Dharma Productions Equity Deal Update
mumbai2 days ago
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Mukesh Ambani’s Reliance Industries (RIL) is in talks to acquire a stake in Bollywood film director Karan Johar’s Dharma Productions. The Economic Times (ET) gave this information in a report citing people familiar with the matter.
The deal will strengthen the company’s position in India’s content production industry, which has interests in businesses ranging from oil to telecoms. It has not yet been disclosed how many shares RIL can purchase in Dharma Productions through this transaction.
Karan Johar owns 90.7% of Dharma shares
Reports claim that Karan Johar has been wanting to sell part of his stake in Dharma Productions for some time, but some previous deals were yet to be finalized due to disagreements over valuation.
Karan Johar holds 90.7% stake in Dharma and his mother Heeru holds 9.24% stake. The production spawned many popular Bollywood companies.
Hindi film industry faces widespread financial challenges
The strategic partnership with Dharma Productions reflects the broader financial challenges facing the Hindi film industry, including rising production costs, declining theater attendance and changing consumer preferences due to the increasing popularity of OTT platforms.
Jio Studio to earn $$ in FY20247 billion rupees
The potential stake purchase will strengthen Reliance’s content production portfolio, which currently includes stakes in Jio Studios, Viacom 18 Studios, Colosseum Media and Balaji. Jio Studios’ box office revenue in FY24 was Rs 700 crore. However, Dharma Productions and Reliance Industries are yet to provide any official information regarding such a deal.
Reliance shares are up just 6% so far this year
Currently, Reliance shares are trading at 2,744 points, down 0.011%. The stock has a negative return of 6.75% in the past month. Meanwhile, the six-month return was 6.33%. However, the stock’s positive return so far this year is only about 6%.
Reliance is India’s largest private company
Reliance is India’s largest private company with a market capitalization of Rs 1,855,393.96 crore. Reliance is currently involved in hydrocarbon exploration and production, petroleum refining and marketing, petrochemicals, advanced materials and composites, renewable energy (solar and hydrogen), digital services and retail.
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