To say that expectations from Bollywood's forthcoming magnum opus "Mangal Pandey - The Rising" are sky-high, would be a gross understatement.

Made at an estimated cost of a whopping Rs.400 million ($9.1 million), the Hindi-film trade has its heart in its mouth awaiting the box-office verdict on the film that releases Friday.

It is the Hindi-film industry's most anticipated movie of the year and is releasing at a time when the Bollywood is reeling under the aftermath of unprecedented floods that hit Mumbai in the last week of July.

Starring Aamir Khan, one of Bollywood's most successful though most elusive film star, the film is being touted as the country's best bet for international acclaim.

Aamir, who has a reputation of being a stickler for perfection and is an epitome of professionalism, returns to the silver screen after a gap of four years with "The Rising". He was reportedly paid Rs.70 million for the film.

He is most unlike any Hindi film star but the consistency with which he has made even commercially unviable films work wonders at the box-office has ensured that he remains in the reckoning.

The fact that Aamir's last release - "Lagaan" - was nominated for an Oscar in the best foreign film category, have many in the throes of anticipation for a repeat with this Ketan Mehta historical epic.

Many reputations are at stake as the film, chronicling the story of the country's first rebellion against the British colonial rulers, goes on the marquees coinciding with the Aug 15 Independence Day extended weekend.

While it is a test by fire for Aamir, director Ketan Mehta has much to reclaim. So does scriptwriter Farrukh Dhondy whose last film - "Kisna" - was not much appreciated.

A co-production between Bollywood's most successful production house Yashraj Films and the industry's most articulate, media-savvy and internationally-known filmmaker Bobby Bedi, the film has the advantage of being well packaged and positioned.

The film's cast includes the reigning queen Rani Mukherjee, and Amin Hajee, Kiron Kher, Ameesha Patel and international stars Toby Stephens and Emily Kent.

But the big question on everyone's mind is can it live up to the hype in the domestic market and the expectations from international distributors.

Advance bookings and bumper opening collections are a given factor, especially in the metros. But, to be declared a bona fide hit in India the film will need to appeal to the masses.

Initial reviews of the film, following screening at overseas festivals, seem to suggest that it will appeal to Indians across the world but might not be the crossover success it is hoping to be.

The "Hollywood Reporter" found the film to be "a kind of Bollywood 'Braveheart' as one courageous and doomed man confronts the might of the British Empire, plus there's singing and dancing."

It goes on to say: "Sumptuously designed and beautifully shot, the film will delight Bollywood fans but likely will fail to capture mainstream audiences with its melodramatic style and jarring combination of stirring action, brutality and musical numbers."

If Aamir manages to recreate the magic of Mel Gibson's "Braveheart", the film could be the elusive crossover success Indian cinema has been aching for. It would be a celebration of all that Bollywood denotes.

International critics found the film in some parts to be too bouncy and optimistic. A case in point was that the hero is savagely beaten but shortly afterwards he joins in a jaunty dance number, which has MTV choreography.

The film's message of peoples' rights to their own cultures and faiths and a suggestion that there are modern versions of the East India Company at work in the world, seem to be a bit lost amid all the happy singing people, "Hollywood Reporter" says.

On home turf, while one would be quick to conclude that "The Rising" would be an instant hit with Indian masses, it may not be so. It is apparently cast in the mould of a mass entertainer, surrounding real-life historical events with archetypical Bollywood melodramatics, but has not been promoted as a mass entertainer. As a result, it may not reach out beyond the multiplexes.

On the other hand, the multiplex cinegoers have been feasting on films like "Page 3", "Black" and "Parineeta" which are anything but typically Bollywood potboilers. Given this, the multiplex crowd may not buy the historical drama and mythological epic.

Clearly, the road ahead for "The Rising" is not all that rosy.