"I am thrilled to join hands with Eros on this film. I am confident together we will make some very entertaining cinema. I hope to recreate the same magic with the sequel and reach out to global audiences," Rai said in a statement.
The details on the film including cast and crew will be announced shortly.
"Tanu Weds Manu", which released Feb 25 this year, starred R. Madhavan and Kangana Ranaut in the lead.