The movie, directed by former critic Karan Anshuman, also stars Pulkit Samrat, Chandan Roy Sanyal and will feature Jacqueline Fernandez in a cameo.
Praising the trailer, superstar Shah Rukh Khan said, "Best of luck to the Bangers of Bangistan... No shanti only kranti (nor peace only rebellion)."
"Seems like one helluva ride! All the best EXCEL and @krnx, @Riteishd your comic timing is impeccable!" filmmaker Karan Johar tweeted.
Actor Sidharth Malhotra also took to Twitter and said, "@Riteishd bang on funny trailer looks awesome, eager to watch can't wait @FarOutAkhtar @ritesh_sid #BangistanTrailer"
"Bangistan" chronicles the lives of two blundering terrorists who are on a mission to change the world.
Produced by Farhan Akhtar and Ritesh Sidhwani, "Bangistan" has music by Ram Sampath and is scheduled to release on July 31.