The Indian government on Wednesday invited bids for a 76% stake in loss-making national carrier Air India.
The government would also sell Air India's entire stake in the low-cost arm Air India Express and its 50% stake in AISATS, a ground handling joint venture with Singapore Airport Terminal Services, a Civil Aviation Ministry memorandum said.
Companies or consortiums bidding for the Air India stake would have to ensure that control of Air India remained with Indian nationals, according to eligibility criteria listed by the ministry.
They would also have to retain the Air India brand name for a few years, among other conditions.
India's federal cabinet in June 2017 approved a proposal to sell shares in the airline, which is more than $8.5bn in debt.
In January, the cabinet approved new rules allowing foreign investors to own up to a 49% stake in Air India, opening the field to bids by global airlines and international consortiums.
Air India with its familiar Maharajah mascot flies to more than 100 destinations.
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