"IOC is likely to submit its valuation of Vadodara plant by the first week of next month and we hope to seal the deal by end of this fiscal," Ashok Chawla, IPCL chairman and managing director said. Mr Chawla said most of the due diligence was over and both the companies were slated to meet the Government by mid-March to clinch the deal before end of this fiscal.

Division of marketing rights between Vadodara plant and Nagothane and Gandhar units, which would be divested to a strategic partner through competitive bidding later, still remains to be resolved, Mr Chawla said.

(PTI)