The 80 to 90 feet tall effigy came off its base due to a strong wind, said Ravi Jain, Press Secretary, Shri Dharmik Lila Committee, which is organising the event.
Authorities went into a tizzy as they prepared to receive the Prime Minister later in the evening, but Jain said it was "minor incident" and the structure representing the demon king was mounted soon.
Jain also said nobody was injured in the mishap.
Shri Dharmik Lila Committee is one of the older bodies organising Ramlila celebrations in the sprawling Red Fort grounds every year.