The film, mired in controversy over its plot line, has been cleared by the Central Board of Film Certification (CBFC), which has asked the makers to change the title and suggested other modifications.
The film was earlier scheduled to be released on December 1. Though Viacom 18 Motion Pictures and Sanjay Leela Bhansali have not released an official statement yet, sources in the production house said the film will release on January 25, a day before Republic Day.
"The film is releasing on January 25. There is no clarity when the official statement will be out regarding this," sources in Viacom18 Motion Pictures told PTI.
Trade analyst Taran Adarsh took to Twitter to announce the release date.
The producers are trying to cover some lost ground by releasing the film ahead of a long weekend (January 26 is a Friday) but the movie will clash with Akshay Kumar starrer "Padman".
Though there was no official word on the release of the film, the industry seemed to be preparing for a January 25 release. Asked about a possible face-off with "Padmavat", Akshay said he was not worried.
"It is not about competition. It is a very big day, a big week, so all the films can come, both the films can release on that day. Every film has the right to release whenever they want, and I am happy for them."
"Padman" producer Prerna Arora, too, sounded optimistic. "We are coming with 'Padman' on January 25, we are not nervous or worried about the clash. We are confident about our film. I think two big films can come together. If the film is good it will do well commercially irrespective of a clash. We are happy for 'Padmavat' (release)," she told PTI.
Asked about the possible clash with "Padmavat", Jayantilal Gada, one of the producers of "Aiyaary", told PTI, "We will move our release date to February 9."
On December 28, the Central Board of Film Certification (CBFC) decided to give Mr Bhansali's period film a U/A certification along with some modifications and suggested that the film's title be changed to "Padmavat" to befit the source material, Malik Muhammad Jayasi's epic of the same name.
The board also suggested modifications in disclaimers and relevant changes in the song "Ghoomar".
CBFC chief Prasoon Joshi had said the producers and director of the film were "completely in agreement" with the proposed modifications.
The censor board had appointed a special panel to review the film as many Rajput organisations were up in arms against the portrayal of queen Padmini in the film even though historians are divide on whether she actually existed.
The period romance features Shahid Kapoor, Ranveer Singh and Deepika Padukone in lead roles.
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