The much-anticipated biopic on legendary screen icon Madhubala has encountered a significant setback due to budgetary constraints.

According to sources close to the production, while director Jasmeet K Reen, best known for ‘Darlings’ (2022) starring Alia Bhatt, is ready to begin filming, the producers are currently re-evaluating the financial strategy. The project, a collaboration between Sony Pictures, Brewing Thoughts, and Madhubala Pictures, is now under review in an effort to ensure financial viability.

“The elaborate set designs, period-specific costumes, and intricate detailing pushed the budget to a level that made cost recovery a concern,” an insider told Mid-Day. “The team is working hard to strike a balance—preserving the grandeur of Madhubala’s legacy while keeping the production economically sustainable.”

Described as an emotional and richly detailed tribute, the script has received praise. However, due to financial pressures, the budget has reportedly been slashed by half, placing discussions with leading female actors on hold until funding is secured.

“The film absolutely deserves to be made,” the source added. “The aim is to commence production by the second quarter of this year, provided all financial matters are resolved.”