Reports that Sri Green Productions had acquired the Tamil Nadu theatrical rights of Ilayathalapathy Vijay's upcoming movie, Bairavaa, have turned out to be false.

"We have not acquired the rights of Bairavaa. But the talks are on," sources close to Sri Green Productions told the International Business Times, India. The buzz in the industry was that the company had procured the rights for a record price.

Many leading firms are in the race to acquire the Tamil Nadu distribution rights of Bairavaa, but makers of the film are yet to sell it, and are considering all the offers.

The Tamil Nadu theatrical rights of Ilayathalapathy's previous film, Theri, were sold for Rs 49 crore, while another of his movies, Puli, had fetched about Rs 40 crore. Industry experts are expecting the rights of Bairavaa to be sold for more than Rs 50 crore, given the success of his previous film, Theri.

The Bairavaa team is currently busy shooting the final talkie portions of the film in Hyderabad. The filming is expected to be get completed this week except for a few songs, which are expected to be shot in foreign locations.

The shooting is expected to come to an end in October, and the team will get three weeks to wrap up the post-production works.

Bairavaa, which was launched on April 11, is written and directed by Bharathan, who is collaborating with Vijay for the second time, after Azhagiya Tamil Magan. Keerthy Suresh plays Ilayathalapathy's love interest in the film, which also stars Aparna Vinod, Jagapathi babu and others.

The film features M Sukumar's cinematography, Praveen KL's editing and Santhosh Narayanan's music. It will hit the screens on January 14, 2017.