I have spent 3-4 hours by the way on google, but couldn’t find the solution. Then I thought why don’t I find by myself. So here is the solution. Very simple.

1. Download – BlueStacks_HD_AppPlayerPro_setup_0.7.8.829_REL.msi (102 MB)
2. Unpack with Universal Extractor (http://www.legroom.net/software/uniextract) by right clicking on the MSI and select UniExtract to Subdir
3. Go inside of the folder – BlueStacks_HD_AppPlayerPro_setup_0.7.8.829_REL
4. Download MSI reader InstEd (http://www.instedit.com/) Application
5. Open unpacked BlueStacks_HD_AppPlayerPro_setup_0.7.8.829_REL.msi (1.86 MB) in the InstEd application
6. From the left menu list, select InstallExecuteSequence, on the right side find ChechAV entry. You will find “$RuntimeComponent > 2″ replace 2 with 100. like this.. $RuntimeComponent > 100........ In this way you will also find some conditions, also do the same change if you are having issue about RAM, graphics card etc.
7. Save the file from the file menu
8. Close InstEd.
9. Now Run saved MSI, it will works like charm.
10. Add C:\Program Files\BlueStacks folder in the exclusion list of Bitdefender.
11. Enjoy and have fun.

I think version number [something like 0.7.8.829] doesn't matter. Whatever you can download, this process will work on that.