Twenty years after Raaz, Vikram Bhatt and Mahesh Bhatt have reunited for a horror film titled Cold. Written by Mahesh Bhatt and Suhrita Sen Gupta, the film is directed by Vikram Bhatt. It stars Akshay Oberoi and Anisha Pahuja. The first schedule of the film has begun in Mumbai.

Cold is "a heartwarming story of a woman who emerges from a horrific time," throwing light on "how she survives in a big city all alone and lives through the horror surrounded by the great danger of losing her life." 

Vikram says, "The world has gone through a harrowing time in the past one year and there is a need for a collective catharsis and Cold is going to provide the viewers with that." 

He adds, “I am going to reinvent the horror genre once again with my mentor Mahesh Bhatt twenty years after Raaz, with Cold. I promise the scariest ride in our cinema till date.”