"Main Hoon (Part-Time) Killer" was earlier slated to release on April 24.
It is the same movie against the release of which superstar Rajinikanth had petitioned the Madras High Court for a stay last year, as he had felt the entertainer might defame him and upset his large fan base.
Talking about the new release date, Saif told IANS: "May 15 is the best possible date we can come up with as there are no other movies apart from 'Bombay Velvet'. After May 15, there is a long waiting line for lots of films and our distributors Dimension Pictures mutually took this decision with us."
The Central Board of Film Certification has allotted a re-Censor certificate with 'A' rating, along with seven major cuts to "Main Hoon (Part-Time) Killer".
As far as the risk factor is concerned, Saif added: "Every week there will be some film. I personally pray for all the films to get successful and do good business. 'Bombay Velvet' is a different film, and my film is different. So, I don't see any risk factor here."