Daijiworld Media Network – Mumbai

Mumbai, May 27: Filmmaker Karan Johar has revealed that his late father and veteran producer Yash Johar had advised him never to take Dharma Productions public through an Initial Public Offering (IPO), saying it was “not in our nature or culture.”

Karan made the revelation during a conversation on the YouTube channel “The BarberShop with Shantanu”, where he spoke about his business ventures, including Dharma Productions and jewellery brand Tyaani.

Reflecting on his journey with Dharma Productions, Karan said it took him several years to reach a stage where he was comfortable selling a stake in the company. In 2024, he sold a 50 per cent stake in Dharma Productions to businessman Adar Poonawalla.

“It took me so many years to sell some stake in Dharma. I took it to a point, but I am still actively working and giving my be-all and end-all to that brand,” Karan said.

Speaking about the idea of launching an IPO, Karan said he never considered the option either for Dharma Productions or for his jewellery venture Tyaani.

“There is no way we are going to have an IPO. That is not something I am looking at at all. That’s something that my father told me many moons ago, before he passed. He said, ‘Just don’t do it. It’s not in our nature or culture’,” Karan shared.

He added that when advisors once suggested an IPO for Dharma Productions, he declined because he preferred being accountable to only a limited group of people.

Karan also recalled how emotional he became during negotiations related to the stake sale to Adar Poonawalla, especially when lawyers discussed an “exit clause” in the agreement.

“They told me exit clause… and I was offended. I said, ‘Why would I leave? This is my passion. I want to die on a film set’,” he said.

Karan added that his close friend and Dharma CEO Apoorva Mehta later explained to him that such clauses were standard legal practice meant to safeguard all parties involved.

During the interaction, Karan also spoke about his association with Tyaani Jewellery and his fascination with statement jewellery pieces, particularly oversized rings worn by men.

He claimed that some rings priced between Rs 5 lakh and Rs 7 lakh often appeared far more expensive because of their design and visual impact.

“You will be surprised by the cost of the ring versus the impact. People think it is worth a crore, but it may actually cost Rs 5-7 lakh,” he said, adding that the jewellery often drew attention at high-profile weddings and social events.