How ‘Ramayana’ Earned ₹1,000 Crore Before Release—Without Selling a Single Ticket

The unveiling of the initial preview of Nitesh Tiwari’s ambitious adaptation of Ramayana generated significant discussion last week. As the largest Indian film ever produced, Ramayana is financed by Namit Malhotra’s Prime Focus Studios. The lead-up to the major launch created substantial excitement surrounding the film, along with some favorable attention for the studio, resulting in an increase in their stock market performance.

Prime Focus is traded on the Bombay Stock Exchange (BSE), where it experienced a successful week following the board’s approval for the issuance of 462.7 million equity shares through a preferential issue. This decision resulted in a 30% increase in the company’s share price, rising from ₹113.47 to ₹149.69 between June 25 and July 1. However, the initial preview of Ramayana provided an additional significant boost for the company led by Namit Malhotra.

In the two days following July 1, as anticipation for the launch of Ramayana grew, shares of Prime Focus reached a peak of ₹176 on July 3, the day of the launch. This increase elevated the company’s market capitalization from ₹4638 crore on July 1 to a high of ₹5641 crore. Consequently, the creators of Ramayana experienced a rise of ₹1000 crore in their assets within just two days. However, as the market closed, the share price decreased to ₹169, resulting in the company’s market cap stabilizing around ₹5200 crore.

Ranbir Kapoor, the star of Ramayana, is also poised to become an investor in the film’s production company. Following the board’s approval for the issuance of new shares, Ranbir was listed among the proposed recipients. According to Business Standard, he is set to acquire 1.25 million shares of the company. Although the exact price at which Ranbir will purchase these shares is not disclosed, based on their current market value, his investment is estimated to be approximately ₹20 crore.

The involvement of A.R. Rahman alongside Hollywood composer Hans Zimmer, in addition to the visual effects provided by DNEG, further solidifies its status as a pan-Indian and potentially international spectacle.

The Ramayana, directed by Nitesh Tiwari, is designed to be a two-part film, with Part 1 set to premiere on Diwali 2026 and Part 2 scheduled for release in 2027. The cast includes Ranbir Kapoor portraying Lord Ram, Yash as Ravana, Sai Pallavi in the role of Sita, Ravi Dubey as Lakshman, and Sunny Deol as Hanuman. The film’s score features a collaboration between A.R. Rahman and the renowned Hans Zimmer, who is making his debut in Bollywood.

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