Complex sentence: Initially, the producers wanted Y. V. Rao to direct the film, but reeling under the success of "Chintamani", Rao demanded a high amount of money as payment which the producers could not offer.
Split into simpler sentences: Initially, the producers wanted Y. V. Rao to direct the film. But reeling under the success of "Chintamani", Rao demanded an high amount of money as payment which the producers could not offer.