Analytical expressions for interfacial pressure coefficients are obtained based on the geometry of the bubbles occurring in two-phase flows. It is known that the shape of the bubbles affects the virtual mass and interfacial pressure coefficients, which in turn determines the cutoff void fraction for the well-posedness of two-fluid model (TFM). The coefficient used in the interfacial pressure difference correlation is derived assuming potential flow around a perfect sphere. In reality, the bubbles seen in two-phase flows get deformed, and hence, it is required to estimate the coefficients for nonspherical geometries. Oblate and prolate ellipsoids are considered, and their respective coefficients are determined. It is seen that the well-posedness limit of the TFM is determined by the combination of virtual mass and interfacial pressure coefficient used. The effect of flow separation on the coefficient values is also analyzed.