Acharya will contest from Saran while Bharti will try her luck in the Patliputra LS constituency.
This will be the first time the BJP has got more seats than Chief Minister Nitish Kumar-led JD-U in Bihar, underscoring the change in their equations after they joined hands a few months back.
A BJP leader in Bihar on Thursday died while taking part in a 'Vidhan Sabha march' against the state's Nitish Kumar government, evoking allegations from senior party leaders that he was "killed in a brutal lathi charge".
Bharatiya Janata Party's prime ministerial candidate Narendra Modi on Wednesday campaigned for the party's 'bahubali' candidate Satish Chandra Dubey in Bihar's Valmikinagar parliamentary constituency.
"The accused claims he had dreams of killing the minister and he disclosed the same in the video. Further investigation is underway," the SP said.
The Mahagathbandhan's seat-sharing announcement comes a day after the filing of nomination papers for the first phase of Lok Sabha polls was over.
Disgruntled Janata Dal-United leader Upendra Kushwaha on Monday resigned from Chief Minister Nitish Kumar's party, less than two years after returning to the party, and announced formation of the 'Rashtriya Loktantrik Janata Dal'.
The Congress, which had fought nine, lost all but managed to retain Kishanganj.
The Bhartiya Janata Party along with the Lok Janshakti Party are all set to fight a pitched political battle against the ruling Janata Dal-United and also the Congress and Rashtriya Janata Dal combine in Bihar. But there's one thing in common between the five major parties of the state -- all of them have fielded bahubalis, criminal-turned-politicians and their wives in the upcoming Lok Sabha election.
District Magistrate Rachna Patil told PTI on Friday, "We are looking after the matter."