New Delhi: The National Land Monetization Corporation (NLMC) has received successful bids worth ₹366.33 crore for 150 land plots belonging to Rashtriya Ispat Nigam Limited (RINL), the operator of Visakhapatnam Steel Plant, in the first phase of its e-auction. According to the Ministry of Finance, the successful bid value was 17.23% higher than the aggregate reserve price of ₹312.48 crore, reflecting competitive interest in the land parcels.
The highest auction price exceeded ₹1.80 lakh per square yard, highlighting the value of the land assets offered for monetisation.
The auction represents NLMC’s first end-to-end e-auction and forms part of the government’s broader efforts to unlock the value of surplus land held by Central Public Sector Enterprises (CPSEs).
The initiative aims to promote the productive utilisation of public assets through a transparent, competitive and market-driven process.
NLMC RINL Land Auction Generates ₹366.33 Crore in Bids
In the first phase of the e-auction, successful bids were received for 150 land plots belonging to RINL in Visakhapatnam. The total successful bid value of ₹366.33 crore exceeded the combined reserve price of ₹312.48 crore by 17.23%.The highest price recorded during the auction crossed ₹1.80 lakh per square yard.
The outcome demonstrates the role of competitive bidding in discovering market-based prices for surplus public-sector land assets. Through the monetisation process, NLMC aims to facilitate the effective use of land resources that are not required for the core operations of the concerned public sector enterprises.
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RailTel’s E-Nivida Platform Facilitates Online Bidding
NLMC facilitated the auction in coordination with RINL, while Quikr India Private Limited (QIPL) served as the transaction consultant. The online bidding process was conducted through RailTel’s E-Nivida platform, enabling prospective buyers to participate in the auction electronically.
To encourage participation and familiarise investors with the available properties, NLMC and RINL organised investor outreach programmes in Visakhapatnam, Vijayawada and Hyderabad during September 2026. These programmes provided prospective bidders with information about the land parcels and the auction procedure. Participants were also able to seek clarification on key requirements, including:
- Registration and documentation procedures.
- Earnest money deposit (EMD) requirements.
- Online bidding procedures and participation guidelines.
- Details relating to the properties offered for auction.
The outreach initiatives were intended to improve awareness among potential investors and facilitate participation in the competitive bidding process.
NLMC Announces Second Phase of RINL Land E-Auction for October 30
Following the successful completion of the first phase, NLMC will conduct the second and final phase of the current RINL land e-auction on October 30, 2026, from 11:00 AM to 5:00 PM.
The second phase will cover the remaining 216 land parcels in Visakhapatnam. Interested bidders must complete their registration by October 27, 2026, ahead of the scheduled auction. Prospective participants can access information about the available plots, reserve prices, eligibility criteria and participation requirements through the official e-auction portal: Official E-Auction Portal: https://eauction.enivida.com
Interested bidders are advised to review the portal for the applicable terms, documentation requirements and registration procedures before the deadline.
Government Aims to Unlock Value from Surplus Public Land Assets
The NLMC-led auction is part of the government’s broader initiative to facilitate the productive utilisation of surplus land assets held by CPSEs and other government entities. By bringing these assets to the market through transparent and competitive bidding, the government aims to enable market-based price discovery and unlock value from underutilised public resources.
The process also seeks to improve asset utilisation while providing a structured mechanism for monetising land that is surplus to the operational requirements of public sector enterprises.
The first phase of the RINL auction marks a step forward in this effort, with successful bids for 150 plots generating ₹366.33 crore. The second phase will offer investors an opportunity to bid for the remaining 216 land parcels.
About NLMC
The National Land Monetization Corporation (NLMC) is a government-owned entity under the Department of Public Enterprises, Ministry of Finance, Government of India. It was established to facilitate the monetisation of surplus land and non-core assets held by central public sector enterprises and other government agencies. NLMC supports the government’s asset monetisation efforts by facilitating the sale and productive use of such assets.
About (RINL)
Rashtriya Ispat Nigam Limited (RINL) is a Schedule A Central Public Sector Enterprise under the Ministry of Steel. Headquartered in Visakhapatnam, Andhra Pradesh, RINL operates the Visakhapatnam Steel Plant and is engaged in the production and marketing of steel products.
Read also: NLMC Recommends Monetisation of Surplus Government Assets Worth Over ₹5,000 Crore
