‘Love & War’: Dharma Productions, Zee Studios and Pen Marudhar In Race To Lock Distribution Rights For Ranbir Kapoor, Alia Bhatt and Vicky Kaushal-starrer (EXCLUSIVE)

“Love & War,” headlined by Ranbir Kapoor, Alia Bhatt and Vicky Kaushal, has been in the news since its inception. While the mega-budget Sanjay Leela Bhansali-directorial is set to have a grand theatrical release on January 21, 2027, three major firms are competing to secure distribution rights for this biggie.

Variety India has exclusively learned that Dharma Productions, Zee Studios and Pen Marudhar (Pen Studios’ distribution arm) are in the race to bag the distribution rights for the epic romantic war drama.

According to sources, the bidders are negotiating around ₹300 crore. With nearly five months until release, the film’s pre-release deals are being keenly followed and are expected to reduce the recovery pressure associated with the film. 

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At the moment, the in-demand film has already recovered over ₹200 crore via non-theatrical avenues. While Netflix has reportedly acquired the post-theatrical streaming rights for approximately ₹130 crore, the music and satellite rights have generated another ₹70 to ₹80 crore.

“Love & War” marks the reunion of Ranbir Kapoor and Alia Bhatt with Bhansali after “Saawariya” and “Gangubai Kathiawadi,” respectively. Both actors have also earlier shared screen space in “Brahmāstra: Part One – Shiva.” While Vicky Kaushal is working with Bhansali for the first time, the actor has previously collaborated with Alia and Ranbir in “Raazi” and “Sanju,” respectively.

“Love & War” has faced multiple delays at the box office. The initial release date was Christmas 2025, it was later pushed to March 20, 2026, and now, January 21, 2027.

Apart from Hindi, the film will also be released in Telugu and Tamil dubbed versions.