"Aligarh" is based on the real life incident of Dr Shrinivas Ramchandra Siras, who was terminated from his job because of his sexual-orientation.
Siras, who was the professor of Marathi at the Aligarh Muslim University, later committed suicide. Bajpayee is playing the role of Siras in this movie, and National Award-winning actor Rajkummar Rao plays a journalist in the film.
Hansal shared the news on the micro-blogging site Twitter.
"#Aligarh to premier at Busan International Film Festival. Love you @Apurvasrani @BajpayeeManoj @RajkummarRao and our most fantastic team."
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The 10-day festival (October 1-10) will open with actor Vicky Kaushal's "Zubaan", which is co-produced by Guneet Monga ('The Lunchbox').
Filmmaker Anurag Kashyap will be a part of the jury for the New Currents competition in the Asian films section at the festival.
The five-member jury will be headed by Taiwanese actress-director Sylvia Chang. Other three jurors include South Korean film director Kim Tae-yong, German actress Nastassja Kinski, and film critic Stephanie Zacharek.
The festival will close with "Mountain Cry" by director Larry Yang.