Filmmaker Ram Gopal Varma will make a web series based on the Mumbai underworld. It is said to be loosely based on the life of celebrated fugitive mafia don Dawood Ibrahim.

The series will be set between the early 1980s till the 1993 blasts, for which he is accused of being the mastermind.

"I have gathered a large amount of research material on the subject over the last two decades, and only a web series can do justice to it," Varma said to The Hindu.

Varma also made critically-acclaimed movie "Company" in 2002, which was also based on the life of Ibrahim. It featured Ajay Devgn, Vivek Oberoi and Urmila Matondkar.