The present invention discloses the novel oral immediate release formulation of poorly soluble antihypertensive drug telmisartan. The immediate release formulation disclosed in the present invention comprises of amorphous ternary nanocomposites or nano-complex or complex of Telmisartan having average particle size equal to or below 1000 nm. The immediate release refers to more than 85% release of telmisartan in less than 45 minutes or preferably in less than 30 minutes or even more preferably in less than 15 minutes in dissolution media compositions irrespective of pH. The invention also discloses the method of preparation of said ternary nanocomposites of Telmisartan.