The actress, whose "Corporate" by Madhur Bhandarkar is ready for release, was signed on by Shree Ashtavinayak Cinevision Limited for the as yet untitled film.
The film goes on the floors Monday and the opening shot at Filmistan studios will start with a song sequence under the supervision of choreographer Remo.
Bipasha will share screen space with Sanjay Dutt and Ajay Devgan in the suspense story. The rest of the star cast is yet to be finalised.
Composer Himesh Reshammiya, who is going places after churning out chartbusters like "Aashiq Banaya Aapne", "Aksar" and "Humko Deewana Kar Gaye", will score the music for the film.