Shah Rukh Khan, Akshay Kumar and Arjun Rampal have expressed keen interest in hosting parties for the Hollywood actor on December 4 and 5, but their requests have been politely declined.
NDTV reports that Kapoor offered to have Cruise as a guest at his house, but practical considerations came in the way.
"Anil is Tom's co-star in Mission: Impossible," a source said. "They have a personal bonding. But for security reasons, he will stay at Taj Lands End which is now being turned into a fortress."
Sources also added that Kapoor is planning a huge bash in honour of his friend.
Some of the other Bollywood names who wanted to host parties are reportedly not happy and may not even turn up.
The source added: "But Anil can be very persuasive. He will win over all the Khans and Kapoors and the rest of his fraternity and they will all be there finally."
The venue for the party is being kept under wraps. The source continued: "The producers have lined up big events. The core event is a screening for fans of M:I4 on December 4, three days before the film's global premiere in Dubai.
"News of the fan screening has leaked out. Requests for invites are driving the production company up the wall. They've surrendered Tom's schedules to Anil who will take a call on where and for how long Tom will be in Mumbai."