Filmmaker Sanjay Leela Bhansali's ambitious web series "Heeramandi: The Diamond Bazaar" will premiere on streaming service Netflix on May 1.

The release date of the much-anticipated show was announced at a drone light show event held at the Mahalaxmi Race Course in South Mumbai.

A sneak peek into the world of "Heeramandi: The Diamond Bazaar", which marks Bhansali's digital debut, was unveiled in the sky through drones formation.

The event was attended by the show's star cast including Manisha Koirala, Sonakshi Sinha, Richa Chadha, Sharmin Segal, and Sanjeeda Sheikh, Prerna Singh, CEO of Bhansali Productions, and Tanya Bami, Director of Series, Netflix India.

Billed as an epic saga of love, power, revenge and freedom, the series explores the cultural reality of ‘Heeramandi', a dazzling district, through the stories of courtesans and their patrons set against the tumultuous backdrop of the Indian freedom struggle of the 1940s.

In "Heeramandi: The Diamond Bazaar", Bhansali had created a dream-like world, said Sinha.

"We didn't want to come out of his world, it was dreamy, stunning, and it was that captivating. For us as actors, it was an experience which we never had before. "The takeaway from working with him was that no matter how good you think you are he will always get something better out of you," she added.

Chadha, who previously worked with Bhansali on 2013's "Goliyon Ki Raasleela Ram-Leela", praised the filmmaker for his attention to detail.

"... Nothing can be done half-heartedly (when you are working with Bhansali). You have to put your heart and soul into everything, whether it's dialogue delivery, acting, dancing, music, everything. He even keeps an eye on every extra standing behind. It is just beautiful to work with him. We all became better actors (after working on this show)" she said.

"I think his work ethic is unmatched," added Koirala, who worked with Bhansali on his 1996 directorial debut "Khamoshi: The Musical".

"Heeramandi: The Diamond Bazaar" also stars Aditi Rao Hydari, who gave the event a miss following her wedding to long-time partner, actor Siddharth today.

Based on the concept by Moin Beg, the series is created, directed and produced by Bhansali.