Produced and distributed by Yash Raj Films, the movie is actor Parmeet Sethi's directorial debut. Shahid has teamed up with Anushka Sharma in the film that also stars comedian Vir Das and reality show star Chang.
Describing the film, Shahid said: "There are very interesting characters, extremely fresh dialogues, con jobs which I have not seen in any other film, but yet very easy to understand. It's not complicated at all. It's a very fun film and there was no reason why I shouldn't be doing it."
Set in the Bombay of 1990s, "Badmaash Company" is about four youngsters who come together to start a business.
What makes their venture a stupendous success is that they find a way to beat the system and soon become the undisputed kings in their business. Living the life of champagne wishes and caviar dreams, the four realise that to make a business successful they don't need big money but a big idea.
With their larger than life schemes, Karan, Bulbul, Zing and Chandu go on a wild roller-coaster ride into the world of sheer glitz and glamour where the stakes are high and risks even higher. They succeed in making quick money by doing all the wrong things... but the right way.
All is hunky dory till the four entrepreneurs are forced to shut shop. They come up with yet another perfect plan to beat the system for the last time.
Shahid said a lot of research went into their looks as the film is set in the 1990s.
"We spent a lot of time deciding the look and styling of the film. We wanted it to represent the 1990s correctly but at the same time we did not want it to look boring, " he said.
"We researched on the scenario of the 1990s and used them in the film. For example, we used clothes that were in fashion like high waisted jeans, simple t-shirts which used to be tucked in, the aviators, which were all in vogue.
"Also the calculator watch that was very much in fashion at that time has been used in the movie. The film starts in 1994 and goes on for five years, " he explained.
The songs of the movie have already become a hit.