In a move that shocked not only Bollywood but also netizens, producer Namit Malhotra who is behind Ramayana – one of the most highly anticipated mythological adaptations in recent years – has turned down a massive Rs 700 crore offer from OTT platforms.
According to a report by Bollywood Hungama, this is the highest-ever digital rights offer for an Indian film by a significant margin. Instead, Malhotra is targeting a Rs 1000 crore deal, demonstrating his confidence in the film’s long-term commercial potential and cultural impact.
The upcoming Ramayana, featuring Ranbir Kapoor as Lord Ram, has been mounted on a massive budget of approximately Rs 4,000 crore for both parts combined. The film also stars Sai Pallavi as Sita, Yash as Ravan, Sunny Deol as Hanuman, and Ravi Dubey as Lakshman, making it one of the most star-studded reinterpretations of the ancient epic. The first part is confirmed for a Diwali 2026 theatrical release, with Part 2 scheduled for Diwali 2027.
The record-breaking OTT offer and strategic rejection
A source told Bollywood Hungama that Namit received the Rs 700 crore offer for both films together, but he took no time to reject it. The source explained, “Given the mammoth cost of Rs 4,000 crore, Namit and his team feel that Ramayana deserves more as it’s a legacy film that will speak to generations ahead.”
Instead of immediately monetising the project through satellite, digital and music rights, Malhotra is holding onto them for now. The producer believes the film’s cultural significance and global appeal justify a higher valuation. By securing a Rs 1,000 crore OTT deal, Malhotra expects to recover the remaining Rs 3,000 crore from other sources, including global theatrical business.
Confidence in escalating offers
The source informed that Namit is confident OTT platforms will escalate their offers once they see more from the world of Ramayana. The teaser, released recently on Hanuman Jayanti, showcased the film’s grand visual scale and extensive VFX work by Malhotra’s own company DNEG.
“It’s a film that gives all platforms a global reach. And Rs 1000 crore for two films put together is a rather good price given the potential,” the source added.
There’s also a possibility for Malhotra to sell just Part 1 now and hold back on Part 2 until Part 1’s release, a strategy previously adopted by the team behind the blockbuster Dhurandhar.
High-stakes gamble on theatrical and long-term value
Malhotra’s decision is a calculated risk in an industry where producers often secure OTT deals early to manage financial backlash. However, with recent action blockbusters and period films demonstrating strong audience pulling power, the producer appears confident that Ramayana will bring in substantial box office returns.
Directed by Nitesh Tiwari and backed by Prime Focus Studios in association with DNEG and Yash’s Monster Mind Creations, the film is being touted as a potential game-changer for Indian cinema. Only time will tell if the gamble of refusing a Rs 700 crore OTT deal will actually pay off for both Malhotra and the rest of the cast and crew.