The filmmaker will make a formal announcement in Chandigarh on Friday.
Helping in scripting the film whose tentative title is Bhaag Milkha Bhaag is Prasoon Joshi.
Everything about Milkha's journey of 75 years will be shown in the film. This includes his childhood, his rise to international fame and his current post as Director of Sports in Punjab. Actual footage of Milkha's wins will also be shown.
Sources say Rakeysh is on the lookout for the actor who will play Milkha.
The film will go on the floors next year and will be shot in India, Pakistan and other countries.
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