Adani group, a consortium of state-run companies led by GAIL India, and Gujarat State Petroleum Corporation are likely to bid for BG Group's 65% stake in Gujarat Gas, said three sources with direct knowledge of the matter.
The interested companies will submit non-binding bids for the stake in the gas distribution company on Tuesday, the sources said.
Two of the sources said Reliance Industries (RIL) had been keen on acquiring the stake, but a company spokesman denied any interest in the deal.
Two European companies are also expected to submit bids, two of the sources, who declined to be identified, told Reuters.
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