In the year 1647, a young warrior named Tanhaji Malusare is instructed in the art of swordsmanship by his father, Kaloji Malusare. Tragically, Kaloji loses his life during a Mughal raid that devastates their village of Umrat. Fast forward seventeen years to 1664, where Tanhaji has become a military commander in service to Shivaji Maharaj. With the aid of his younger brother, Suryaji Malusare, he successfully leads his forces against a Mughal cavalry unit.
The tension escalates in 1665 when the Mughal Emperor Aurangzeb dispatches his uncle, Jai Singh I, the Maharaja of Amber, with the intention of curbing Shivaji’s expansion in the Deccan Plateau. Following the fierce Battle of Purandar, Shivaji is left with no choice but to relinquish control of 23 forts, one of which is the strategically vital Kondhana Fort. Matters worsen when the Mughal general Beshak Khan insults Shivaji’s mother, Rajmata Jijabai, prompting her to vow that she will remain barefoot until Kondhana is retaken.
By the year 1670, Shivaji's operatives uncover Aurangzeb's scheme to assign Kondhana to the Rajput commander Udaybhan Rathod, who intends to use the fort as a launching pad for Mughal offensives in the south. Udaybhan is seen transporting a gargantuan cannon known as ‘Naagin’, aimed explicitly at Maratha positions. In response, Shivaji devises a tactical plan to reclaim Kondhana but chooses not to share it with Tanhaji, who is preoccupied with preparations for his son Rayba's impending wedding. During the Holi festival, Tanhaji visits Rajgad Fort to invite Shivaji and Jijabai to the celebration, but he is informed by the disloyal Maratha noble Chandraji Pisal about the planned offensive, intending to lure him into a trap. Despite initial reluctance, Tanhaji insists on spearheading the mission, even at the cost of postponing his son's wedding.
In an act of betrayal, Pisal warns Udaybhan about the Maratha strategy, enabling Udaybhan to deceive Tanhaji into launching an assault on Maratha soldiers disguised as Mughals. Seizing the opportunity, Udaybhan travels to Kondhana unimpeded, situates ‘Naagin’ against Rajgad, and fortifies the defenses of the fort. Tanhaji, undeterred, secretly infiltrates Kondhana through a hidden passage and rallies the local populace to resist Mughal governance. Amid the festivities of Shivratri, Tanhaji confronts and kills Pisal’s treacherous nephew, Chultya, but as fate would have it, he is captured and tortured by Udaybhan. Fortunately, Jagat Singh, Udaybhan's subordinate and brother to the captive Kamal Devi, covertly liberates Tanhaji and reveals Udaybhan's sinister plan to forcibly marry Kamal Devi. Driven by a sense of duty, Tanhaji vows to save her and reclaim Kondhana.
On the ominous night of February 4, 1670, coinciding with Ashtami, Tanhaji leads a surprise attack on Kondhana. His forces scale the steep fort walls, clashing fiercely with the Mughal garrison. In the turmoil, Jagat Singh and Kamal Devi manage to escape. Just as Udaybhan prepares to unleash ‘Naagin’ upon Rajgad, Tanhaji intervenes. The ensuing duel is intense; although Tanhaji suffers a grievous injury and loses an arm, he ultimately prevails by killing Udaybhan and sending him, along with the cannon, over a cliff. Severely wounded, Tanhaji makes a poignant gesture and plants the Bhagwa Dhwaj on Kondhana before succumbing to his injuries.
When Shivaji arrives shortly thereafter, he finds the fort has returned to Maratha control. Heartbroken over the loss of his valiant commander, Shivaji reflects, > "Gad aala, pan sinh gela" (“The fort has been captured, but the lion is lost”). Shivaji takes it upon himself to oversee Rayba's wedding, while Savitribai, Tanhaji's devoted wife, keeps her promise to prepare as a bride in private, awaiting his return. Meanwhile, Aurangzeb's ambition to tighten Mughal dominance in southern India is thwarted, delaying his campaign for another eighteen years.