A remake of his own Tamil film Kanchana (2011), it stars Akshay Kumar and Kiara Advani, while Ayesha Raza Mishra, Rajesh Sharma, Ashwini Kalsekar and Sharad Kelkar play pivotal roles.

[5] Asif Ahmed, who doesn't believe in ghosts, lives with his wife Rashmi Rajput and nephew Shaan.

When he drinks it, the ghost possesses him, and he begins to act effeminate, and goes on killing sprees at night, alerting the family except Asif, that something is wrong.

Asif's family hires an exorcist who drives the main spirit out of his body; trapped, the ghost reveals her story.

When Geeta leaves to study medicine abroad, Laxmii buys a plot of land to construct a hospital.

In January 2019, media reports suggested that Akshay Kumar will star in the remake of Kanchana (2011),[6] directed by Raghava Lawrence, who also signed to helm the Hindi version of it, thus making his debut in Bollywood,[7][8] whereas Kiara Advani, plays the female lead.

[12] Farhad Samji, who directed the actor's Housefull 4 (2019), wrote the screenplay for the film,[13] with sources claimed that the work took six months to complete the adaptation.

[1][47] The film was also theatrically released on the same date in select overseas markets such as United Arab Emirates, Australia, New Zealand and Fiji.

[50][51] Irrespective of this, the premiere of Laxmii was held ahead of the release on 7 November 2020, at a multiplex theatre in New Delhi,[52] with Akshay Kumar and Kiara Advani being present at the event.

[56][57] Commentators believed that, this is due to the backlash received by Sadak 2,[58] after its trailer became the second most-dlisked video,[59] owing to the nepotism debate sparked after the suicide of Indian actor Sushant Singh Rajput.

According to the notice, the film's title was considered to be disrespectful to Goddess Lakshmi, thereby hurting Hindu community's sentiments.

Rating it with one and half stars out of five Vetticad concludes, "Irrespective of its aims, Laxmii serves to further otherize the already ostracised trans community.

"[67] Shubhra Gupta of The Indian Express gave one star out of five and opines, "Akshay Kumar-starrer is a two-hour clutch-your-head, can-I-really-be-watching-this nonsense, from beginning to end.."[68] Pallabi Dey Purkayastha of The Times of India gave the film two stars out of five, calling it "more noise and less fireworks", she concluded, "Laxmii sets out to be a satire against age-old beliefs and biases – we get it!

"[69] India Today's Divyanshi Sharma wrote, "Laxmii is the perfect watch with your family this festive season.

"[70] Pradeep Kumar of The Hindu stated "Laxmii is what happens when an idea not worth the quantum of its original investment gets more money and a bigger canvas, and is expected to evolve by itself to match the new, grander scale.

"[71] Stutee Ghosh of Bloomberg Quint, gave the film half out of five stars and stated "Even judging by the Bollywood standard of "brainless comedies" Laxmii falls short miserably.

"[72] Rohit Vats of News18 gave the same rating for the film and stated "The gags fall flat and actors appear clueless.

"[73] Laxmii broke the viewership records of Dil Bechara,[74][75] and became the most watched film on the streaming platform Disney+ Hotstar.

[76][77] But, it was listed in the fourth position in most watched films, which were directly released on OTT platforms, according to a survey from LetsOTT.