"Some tribal leaders are there with me, and it is in discussion stage. It will be a national party, and those regional parties willing to support can do so by coordinating from their respective states," Sangma told PTI here.
"It (name of the party) is likely to be announced by this month end," the 64-year-old former Lok Sabha Speaker said.
Sangma was, however, categorical on his daughter's political future saying, "she will continue where she is now," indicating that he would not exert any pressure on her.
Asked whether former MP and Jharkhand Disom Party's Salkhan Murmu was one of the tribal leaders in his panel ahead of creating the party, Sangma said, "Let us see, how things move".
Sangma, who lost the presidential election on July 19, later told a gathering of tribals and 'moolwasis' (original non-tribal inhabitants) that he knew the numbers were against him.
"I knew that I would not win the presidential poll. But I wanted to send a message that tribals, who are known as simple people, can also put up a strong fight," Sangma said and called upon tribals not to allow others to exploit them.
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"Be courageous and strong and fight for your rights," he said.
On Murmu's invitation, Sangma visited Nagri area situated on the outskirts of the state capital to listen to tribals protesting against giving away their land to the government for setting up educational institutions.
Sangma had quit NCP as his party was opposed to his determination to contest against UPA nominee Pranab Mukherjee.