Mukesh Ambani's Reliance Industries eyeing a slice of Karan Johar’s Dharma Productions: Report

Mukesh Ambani-led Reliance Industries aims to strengthen its position in the content production industry through the deal with Karan Johar’s Dharma Productions. Mukesh Ambani-led Reliance Industries is reportedly looking to pick a slice of Bollywood producer and director Karan Johar’s Dharma Productions, known for works such as the recently released Jigra, Rocky Aur Rani Kii Prem Kahaani, Ae Dil Hai Mushkil, Student of the Year, Kapoor & Sons, Yeh Jawaani Hai Deewani, Kal Ho Na Ho, Kabhi Khushi Kabhie Gham, and Kuch Kuch Hota Hai. According to a report in The Economic Times, the conglomerate aims to strengthen its position in the content production industry through the deal. The size of the stake is still unclear. A source told the daily that Karan Johar, who owns 90.7 per cent of Dharma, has been wanting to monetise his stake for a while. However past deals have fallen through due to disagreements over the valuation. Karan Johar’s mother, Hiroo Johar, owns 9.24 per cent. This development comes amid persisting financial challenges for the Hindi film industry amid a slowdown in the number of box office hits. Film production costs have risen while footfalls in theaters have taken a beating, also due to the growing popularity of over-the-top (OTT) platforms that offer a gamut of options from the comforts of one’s home.