Mumbai, Jun 9 (IANS): Imtiaz Ali's next movie "Jab Harry Met Sejal" -- starring Shah Rukh Khan and Anushka Sharma -- has now been set for release on August 4, thereby averting a box office clash with Akshay Kumar's "Toilet: Ek Prem Katha", sources in the know of the development have said.

After months of speculation, it was officially revealed by Shah Rukh, Anushka and Imtiaz through their social media handles late on Thursday night that the movie is titled "Jab Harry Met Sejal" -- an obvious take on the Meg Ryan and Billy Crystal.

Interestingly, the title is also reminiscent of Imtiaz's superhit movie "Jab We Met".

The romantic drama, widely shot in Prague, Amsterdam, Lisbon and Budapest, marks the third time that the two actors have been paired after "Rab Ne Bana Di Jodi" and "Jab Tak Hai Jaan".

The first glimpses reflect a positive vibe with Shah Rukh and Anushka portrayed at their jovial best.

Taking this positivity forward, Shah Rukh, who is also presenting the movie under his Red Chillies Entertainments banner, decided it would be best for the films to release a week apart, the sources close to the film told IANS.

"Seeking your love," Imtiaz posted for fans on Facebook, alongside the film's first two looks which carry the tagline -- "What you seek is seeking you".

As a date, August 4 will allow "Jab Harry Met Sejal" to cash in on a long weekend given that Rakshabandhan falls on August 7 -- a Monday -- this year. There will also be an Independence Day holiday in the subsequent week.

Additionally, both films will get their own audiences -- setting a precedent for the industry where clashes of big films has been resulting in divided and damaged revenues, the sources added.

Shah Rukh's own movie "Raees" clashed with "Kaabil" earlier this year, but emerged the front runner.