But unlike other platforms that levy a monthly fee, VB Theatre will charge viewers Rs 18 per series with each series featuring 12-15 episodes.
The app will be available for download from January 27.
"VB Theatre is like a theatre on the go. What I've done is make each series available individually, for the cost of a vada pav. So one season of a show on the app will cost Rs 18," Bhatt told PTI.
While NetFlix plays in the premium segment, Hotstar and Amazon Prime are also competing aggressively for a share of the customer's viewership.
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The segment also includes players like Yupp TV, Hungama and ALT Balaji that are actively expanding their library with original programming to tap into the Indian market.
For Bhatt, digital space is not a new area. In January last year, he had started 'VB on the Web', a YouTube platform to showcase content.