Set against the backdrop of Thrissur, Kerala, Pani follows the life of (Joju George), a prominent figure in the local real estate and underworld scene, who lives a relatively peaceful life with his wife Gauri (Abhinaya). Their tranquility is shattered when they cross paths with two erratic and brutal youngsters, Siju (Junaiz V.P.) and Don Sebastian (Sagar Surya).