Re-releases
The film's colour version was released theatrically on 12 November 2004 in 150 prints across the country, 65 of which were in Maharashtra. For the release, the colour version was edited to a running time of 177 minutes, but the original running time was preserved for the home media release. This release also included a digitization and reworking of the soundtrack, in which the original composer Naushad participated. The theatrical release coincided with the Diwali weekend, with the film debuting against three other releases – Veer-Zaara, Aitraaz and Naach. It became the 19th highest grossing Bollywood film of the year, behind Aitraaz and Veer-Zaara (the top grosser), but ahead of Naach.
Mughal-e-Azam thus became the first full-length feature film in the history of world cinema to be colourized for a theatrical re-release (some Hollywood films were colourized, but only for release on home media). It was then selected for seven international film festivals. Upon release, the film witnessed full shows at the theatres, with an overall occupancy of 90%. Subsequently, the film completed a 25-week run at the theatres, and witnessed a theatrical run for over 100 days in a significant number of theatres. Kevin Thomas of the LA Times remarked that while colourizing is not a good idea for most black-and-white classics, it was perfect in this particular instance. He compared it to films by Cecil B. DeMille, and to Gone With the Wind (1939) for its larger-than-life storytelling.
In 2006, Mughal-e-Azam became only the fourth film certified for showing in Pakistan since the 1965 ban on Indian cinema, releasing in the country with a premiere in Lahore. It was distributed in the country by Nadeem Mandviwala Entertainment, at the request of K. Asif's son, Akbar Asif. A 3D version of the film was reported to have been planned as of 2009.
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