Initially, the EoI submission deadline was May 2, but it was first was extended up to June 13, then to July 31 and later to September 30 and then to November 16. Pandey said the extensions have been given following requests received from interested bidders. The government is keen to close the sale before March 31, 2021, to help meet a record Rs 2.1 lakh crore target, which Finance Minister Nirmala Sitharaman has set from the disinvestment proceeds in the Budget for 2020-21. The government is proposing strategic disinvestment of its entire shareholding in BPCL comprising of 114.91 crore equity shares, which constitutes 52.98 per cent of BPCL's equity share capital along with transfer of management control to a strategic buyer (except BPCL's equity shareholding of 61.65 per cent in Numaligarh Refinery), the notice inviting offer said. Numaligarh Refinery stake will be sold to a state-owned oil and gas firm.