It was earlier reported that a UAE-based Indian businessman is investing Rs 1,000 crore to produce the cinematic adaptation of The Mahabharata. The film, based on the classic novel Randamoozham, will star Malayalam superstar Mohanlal as the central character Bhima and will be helmed by noted ad man VA Shrikumar Menon. Now, Mumbai Mirror reports that three producers have joined forces to translate the other epic, The Ramayana, onto the silver screen. Bankrolled by Madhu Mantena, Allu Aravind and Namit Malhotra, it will be made at yet another astronomical budget of Rs 500 crore.

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