Essel Group Chairman Subhash Chandra filed his nomination papers for Rajya Sabha from Rajasthan on Monday.
Chandra's candidature will be backed by the BJP, according to media reports.
Chandra was reported to have met former Rajasthan CM Vasundhara Raje Scindia and other leaders earlier in the day.
The BJP`s list of candidates for the Rajya Sabha polls has prominent names, including Union Minister Mukhtar Abbas Naqvi, missing. The polls for the upper House will be held next month June 10. The BJP has so far released the names of 22 candidates in the three lists.