Anupam Kher invited his friends and colleagues from the film industry for the special screening of his second directorial, Tanvi The Great, in Mumbai.
Promoter says he sold a third of his firm to deliver Rs 251 handset.
The share capital of the company is Rs 1 crore (Rs 10 million).
Mohit Kumar Goel has created a flutter in India launching the world's cheapest smartphone.
Indian shooters got off to a positive start on day one of the ongoing International Shooting Sport Federation (ISSF) Junior World Cup (Rifle/Pistol/Shotgun), clinching seven medals, including three golds, at Gabala in Azerbaijan on Sunday.
India Test regulars like Cheteswar Pujara and Ishant Sharma have also thrown their hat into the ring with base prices of Rs 50 and Rs 75 lakh respectively.
