Effect of cyclodextrins such as beta cyclodextrins (βCD), gamma cyclodextrins (γCD) and a modified cyclodextrins such as hydroxypropylated beta cyclodextrins (HPβCD) was assessed on enhancing solubility and dissolution of a poorly water soluble drug candesartan cilexetil. Stoichiometry of the reaction and affinity constant values for all above mentioned cyclodextrins were found out by phase solubility analysis. Drug and cyclodextrin complexes were prepared in two ratio’s as 1:1 and 1:2 by a novel process of fluidized bed coating using pam glat coater. All complexes were evaluated for increase in solubility and dissolution rate and characterized by differential scanning calorimetry(DSC), Fourier transform infrared spectroscopy(FTIR) and X-ray diffraction analysis (XRD). Key words- candesartan cilexetil, cyclodextrin complexes, fluidized bed coating, phase solubility analysis, solubility.