Love & War Creates Massive Pre-Release Buzz as Theatrical Rights Reportedly Sell for ₹300 CroreArticle

Love & War Secures a ₹300 Crore Theatrical Rights Deal

Sanjay Leela Bhansali’s much-awaited Love & War has made a major mark in the pre-release film trade. According to an exclusive report by Bollywood Hungama, the theatrical rights of the Ranbir Kapoor, Alia Bhatt and Vicky Kaushal starrer have been sold for ₹300 crore globally, with Pen Marudhar set to handle the release.

The deal comes months before the film reaches theatres and places Love & War among the biggest pre-release theatrical transactions reported for an upcoming Hindi film.

The film is scheduled to release worldwide on January 21, 2027.

Pen Marudhar Wins the Distribution Rights

According to Bollywood Hungama, several major industry players were competing for the theatrical distribution rights, including Dharma Productions, Jio Studios, Anil Thadani and Pen Marudhar.

The report states that the eventual deal went to Pen Marudhar at a reported ₹300 crore global value. A source quoted by Bollywood Hungama said the bidding was intense and that Bhansali Productions secured what the source described as the best value for the film.

The figure is being reported as a theatrical rights deal, rather than as the film's production budget or guaranteed box-office earnings.

Why Love & War Has Attracted Such a Big Deal?

The commercial interest surrounding Love & War is closely connected to its combination of Sanjay Leela Bhansali, Ranbir Kapoor, Alia Bhatt and Vicky Kaushal.

The film brings all three actors together for the first time under Bhansali's direction. It also marks another collaboration between Bhansali and Ranbir after Saawariya, while Alia reunites with the filmmaker following Gangubai Kathiawadi. For Vicky Kaushal, the project marks his first film with Bhansali.

The film is being positioned as a large-scale romantic drama set against a war backdrop, although the makers have kept substantial portions of the storyline under wraps.

The Film Has Already Completed Its Shoot

The ₹300 crore theatrical deal comes after another major production milestone.

Love & War officially wrapped its principal shoot in early September, with Bhansali Productions marking the occasion alongside the cast and crew. The film subsequently moved into post-production.

However, subsequent reports indicated that Bhansali returned to work on additional war sequences with Ranbir Kapoor, Alia Bhatt and Vicky Kaushal. These reports have described the additional filming as a refinement of important battle portions rather than a change to the film's announced release date.

January 21, 2027 Release Remains Locked

The film is currently scheduled to arrive in cinemas worldwide on January 21, 2027, during the Republic Day period.

Bhansali Productions officially announced the date earlier this year, following multiple changes to the project's release schedule. The film will release in Hindi, Tamil and Telugu.

The January release gives Love & War a prominent theatrical window and positions it as one of the major Hindi-language releases of early 2027.

The First Looks Have Now Arrived

The commercial development follows the recent unveiling of the principal cast's first looks.

The makers released individual looks for Ranbir Kapoor, Alia Bhatt and Vicky Kaushal in September. Alia's first look featured a glamorous retro-inspired appearance, while Vicky's material presented a more intense and rugged side of his character.

The release of the posters has also provided the first substantial visual indication of the film's period setting and Bhansali's aesthetic approach.

Teaser Expected Around Diwali

According to the latest Bollywood Hungama report, Bhansali is planning to launch the teaser around Diwali, with the promotion expected to be linked to the theatrical campaign surrounding Ranbir Kapoor's Ramayana.

This would mark the next major promotional stage for Love & War following the release of the character first looks.

The teaser date, however, should be treated as a reported plan until officially announced by the makers.

What the ₹300 Crore Deal Actually Means?

The reported ₹300 crore figure is significant, but it should not be interpreted as a guarantee that the film will earn ₹300 crore at the box office.

A theatrical distribution deal represents the value agreed for distribution rights and the commercial expectations attached to a film. Actual theatrical profitability depends on several factors, including the distributor's revenue share, exhibition costs, marketing expenditure, audience response and box-office performance.

Earlier reports had also discussed negotiations around the ₹300 crore mark, but those reports described the figure as a target or negotiation level. The latest Bollywood Hungama report states that the theatrical rights have now been sold at that figure, with Pen Marudhar attached to the deal.

The Celebrity Hour Take

The most interesting aspect of the development is the timing.

Love & War has generated a major theatrical valuation before its teaser has been officially released and before audiences have seen substantial footage from the film. The reported ₹300 crore deal therefore reflects the trade value attached to the combination of Bhansali's filmmaking brand, the three leading actors and the scale of the project.

At the same time, the deal should be viewed as a pre-release business development, not as evidence of the film's eventual box-office result.

With the theatrical rights now reportedly locked and the film's first looks already unveiled, the next major indicator will be the official teaser and the broader promotional campaign leading into the January 2027 release.

Sources & Verification

This report uses the September 30, 2026 Bollywood Hungama exclusive as the primary source for the ₹300 crore theatrical-rights deal and Pen Marudhar's involvement. The film's release date, cast and production status were cross-checked against earlier Bollywood Hungama reporting and independent coverage. The ₹300 crore transaction is reported information from Bollywood Hungama and its quoted source; no public corporate filing or official distributor announcement confirming the financial terms was identified in the sources reviewed.