Kher produced "Maine Gandhi Ko Nahin Mara" in 2005, but when the film tanked, so did his hopes to start his own production house.
"The last film I produced, Maine Gandhi Ko Nahin Mara, I wanted to be a tycoon but I almost went bankrupt. I really did. Nothing worked. I wanted an 'Anupam Kher Studio limited', and then I realised I didn't even have five thousand rupees," Kher told reporters.
"Then I did my play 'Kuch Bhi Ho Sakta Hai', based on my failures, which gave me maximum amount of money," he added.
Kher was speaking at the trailer launch of the film "Ranchi Diaries", which he has produced. Also present there were Mahesh Bhatt, David Dhawan, Rohit Shetty and the cast.
Directed by Sattwik Mohanty, the upcoming film tells the story of a young aspiring pop sensation who will do whatever it takes to make it big in life.
"When Sattwik came, he had the same look which I had when I had gone to meet Bhatt sahab. I thought if I could help then (why not). If the film does well or not it is upto the audience, but my job was to bring the film to a certain level," the actor said.
"I am a living example that if you work hard, you'll succeed. I came to this city with Rs 37, today I am the producer of this film. Hard work matters," Kher, 62, said.
Bhatt, who had directed "Arth", said he had given Rs 30 to Kher back then.
"He came to drop me at the airport and I realised his silence, he was wondering how he would go back. I gave him Rs 30 which he doesn't talk about," Bhatt quipped.
The film stars Soundarya Sharma, Himansh Kohli, Taaha Shah, Kher among others.