Bengaluru's Ozone FC and Kerala's Gokulam FC are two of the four teams who have submitted the bid documents, a senior I-League official said.
"The decision will be taken on August 18," he said.
The I-League has never seen participation from Rajasthan and Gujarat in its 10 years' history.
If Ozone FC, which competes in I-League second division, makes the cut then there will be two teams from Bengaluru in I-League and ISL.
If Gokulam FC's bid is accepted, they will be the first team from Kerala after Chirag United were relegated in 2011- 12.
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