Mili (Urmila) is a group of dancer working in films. She is very ambitious and wants to become a top actress. Munna (Aamir Khan), her neighbour and friend, is a happy go lucky person who makes his living selling cinema tickets in black. He takes life as it comes and is generally quite content except for his love for Mili. He is in love with Mili but is too scared to tell her because knowing how ambitious Mili is, he fears rejection.
Kamal (Jackie Shroff) is a moody movie star, who one day, happens to see Mili dancing and he is so impressed with her that he recommends her to a film producer for a main lead opposite him.
On hearing this Mili gets excited and Munna helps her in preparation for the screen test.
Mili passes the test and they celebrate the success. But little did Munna realise that this success can take his loved one away from him and neither did Kamal realise that the professional decision taken by him in recommending Milli will one day bring out his personal feelings towards her. Amidst all this Milli is at the height of her happiness having all her dreams come true and is oblivious to the feelings that Kamal and Munna have for her.
Rengeela is a love story set in a high tech musical background around these three characters.
(From the official press booklet)