The government is expected to begin due diligence for a stake sale in cash-rich state-run oil refiner Hindustan Petroleum Corporation Ltd in August, a senior divestment ministry official said on Wednesday.
He said work on the initial public offering for Bharat Petroleum Corp Ltd would start next week and advisors are likely to be appointed by then.
The official, who did not wish to be identified, said the government will wrap up the stake sale in HPCL by November.
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