Besides Basil Joseph, the film also stars Jagadish Manju Pillai, Sandeep Pradeep and Meenaraj, among others.
Falimy was originally announced with Antony Varghese as the lead and was supposed to be produced by director Jude Anthany Joseph and Aravind Kurup. However, the actor opted out due to creative differences, and the project was later revived with a completely new team. It is now produced by Cheers Entertainments, who earlier collaborated with Basil in Jan.E.Man and Jaya Jaya Jaya Jaya Hey.
Falimy is scripted by Nithish Sahadev and Sanjo Joseph. Cinematographer Bablu Aju, music director Vishnu Vijay, and editor Nidhinl Raj Arol comprise the core technical crew.