Held at the Cinemax, Versova, here Monday night, the launch was different from the usual announcments at hotels and banquet halls.
A red carpet was laid for the show's crew and actors, including lead stars Vivian D'Sena and Drashti Dhami.
Producer Saurabh Tewari of Nautanki Films says it was always his dream to host a premiere for his show like that of a film premiere.
The show, and its poster, spell most things Bollywood.
With lights, cameras and action, the story begins in the old town of Motihari, in the interiors of Bihar. The setting is reminiscent of the sets of Ramesh Sippy's classic "Sholay".
The scene then shifts to a pregnant lady running away to Mumbai only to find herself in the midst of a film set where she gives birth to Madhubala, the show's protagonist, essayed by Drashti.
Born literally in the lap of the film industry, Madhubala is forced to be a part of showbiz, whether she likes it or not.
Prashant Bhatt, programming head (fiction), Colors, says this is the best time to launch a show on the film industry, given the fact that Indian cinema completes 100 years next year.
"It is the story of a simple girl who is given the gift of stardom and she is not happy enjoying it. She is fulfilling dreams which she has not seen and is living a life which she didn't want," said Bhatt.
Sippy, who was present at the event too, is impressed with the look of the show.
"The show looks very dramatic and interesting and promises something very different. The story is about the film industry and of someone within the film industry. Somebody who goes there and how she got there and how her journey was," said Sippy.
"Hundred years of cinema has seen lots of changes, this will be a one beautiful change as well," he added.
The show, which goes on air May 28, also features other actors like Raj Zutshi, Sushmita Mukherjee Bundela, Shagufta Ali and Lalit Parimoo.