Sanjay Leela Bhansali’s Love & War hasn’t sold a single ticket yet, but it has already rewritten the record books. The period drama’s global theatrical rights have reportedly changed hands for a staggering Rs 300 crore, with Pen Marudhar emerging as the distributor after a fierce bidding war involving Dharma Productions, Jio Studios and Anil Thadani.
The Rs 300-crore figure speaks to the sheer scale of expectation around the film, which pairs Ranbir Kapoor, Alia Bhatt and Vicky Kaushal for the first time. It also marks Ranbir’s reunion with Bhansali nearly two decades after Saawariya, and the much-awaited teaser is expected to arrive around Diwali alongside the promotional campaign for Ramayana. The film’s first-look posters, unveiled last week, have already set social media alight.
Crucially, the business risk is far lower than the headline number suggests. The film has reportedly recovered over Rs 200 crore through non-theatrical avenues alone — around Rs 130 crore from its post-theatrical streaming deal plus Rs 70–80 crore from music and satellite rights. With the theatrical deal now done and confidence high on all sides, Love & War’s January 21, 2027 release is shaping up to be one of the biggest events Bollywood has staged in years.
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