The award ceremony, which has travelled to several continents over the years, will mark its 17th edition this year in the European city, which is hosting the three-day gala.
The Bollywood contingent will be led by Anil Kapoor, Sanjay Dutt, Ranveer Singh, Shabana Azmi, Javed Akhtar, Rakeysh Omprakash Mehra, Kabir Khan, Bipasha Basu, Huma Qureshi, Jackie Shroff, Vivek Oberoi, Richa Chaddha and Indian-origin Hollywood actress Freida Pinto among others.
Bajirao Mastani" is closely followed by superstar Salman Khans blockbuster "Bajrangi Bhaijaan" with seven nominations.
The highlight of IIFA Awards ceremony will be the top six acts by superstar Salman, Hrithik Roshan, Sonakshi Sinha, Tiger Shroff besides Priyanka Chopra and Deepika Padukone, who are both creating waves in Hollywood.
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Farhan Akhtar and Shahid Kapoor are reuniting for the third time to handle the hosting duties on stage at IIFA main awards ceremony.
and will be broadcast on Colors.
The main awards gala will be preceded by several sub-events which include a musical and fashion extravaganza IIFA Rocks, to be hosted by filmmaker Karan Johar and Bollywood's latest import from Pakistan - Fawad Khan.
Pritam, Kanika Kapoor, Meet Brothers, Benny Dayal, Monali Thakur, Papon along with Shilpa Shetty, Sooraj Pancholi, Eli Avram and Daisy Shah are set to perform during the event.
Over the next three days, IIFA will also host the Global Business Forum that will address several important issues including urgent environmental issues that affect the global population.
A special Yoga Masterclass will also be organised by superstar Shilpa Shetty, who is returning to IIFA after a gap of seven years.
The celebrations will culminate with the IIFA Stomp and Rang Jam Party with a theme based of one of India's most colourful festival - Holi.
The ceremony itself is expected to bring 15,000 visitors to the Spanish capital during the week of the show.