The company, which has run lotteries in India for more than 30 years, said that it was working with its British partners on its submission.
The National Lottery Commission kicked off the race for the next licence in November last year. The licence will be granted from the start of 2009 for a 10-year term. The current operator is Camelot.
Sugal Jain, chairman of Sugal & Damani, said: “We are in the process of finalising our bid. We have more than 35 years continuous operation of government lotteries in various states of India.”
He added: “While we are one of the top players in every form of lottery played in the country, what sets us apart is our total control of technology elements in the computerised online field.”
A spokeswoman for the National Lottery Commission, said: “We welcome Sugal & Damani's interest in the competition for the next licence.”