The second track from the forthcoming film Heroine, the video is said to have been styled along the same lines as the musical Chicago starring Catherine Zeta-Jones as Velma Kelly.
The track shows Kapoor dressed in shimmering gold and silver dresses performing against a glossy black backdrop while being snapped by a team of photographers, with the film's title in giant gold letters behind her.
Bhandarkar described the track as "classy" and said that 'Halkat Jawani' - the first song from the film, which had over one million hits on YouTube - would appeal more to the masses.
Kapoor, who was voted the world's sexiest woman by readers of Maxim India, plays a fictional Bollywood actress named Mahi Arora.
The Agent Vinod star recently claimed that Heroine draws on the real lives of several Bollywood actresses.
Heroine releases on September 21 and has been awarded an adult certificate.