Pen Marudhar has acquired the all-India theatrical rights of Sanjay Leela Bhansali’s Love & War, the Ranbir Kapoor-Alia Bhatt-Vicky Kaushal starrer, in what is shaping up to be one of Bollywood’s biggest distribution deals ever.

According to a Pinkvilla exclusive reported by 123telugu, the deal is structured on a commission basis with a substantial advance — and Pen Marudhar has also picked up the all-India rights of Shah Rukh Khan’s King for ₹250 crore, underlining the studio’s aggressive expansion.

Separately, Bollywood Hungama reports that the film’s global theatrical rights have been sold for a staggering ₹300 crore, setting a new benchmark. Earlier, Dharma Productions, Zee Studios and Pen Marudhar were reported to be in a three-way race for the rights.

The film’s non-theatrical business had already crossed ₹200 crore, with Netflix said to have paid around ₹130 crore for digital rights and music plus satellite fetching another ₹70-80 crore. Love & War releases on January 21, 2027, in Hindi, Tamil and Telugu.