New Delhi: The National Land Monetization Corporation (NLMC) has successfully concluded the second phase of the e-auction of land parcels belonging to Rashtriya Ispat Nigam Limited (RINL), the corporate entity operating Visakhapatnam Steel Plant. Conducted on November 3, 2026, the auction generated successful bids worth ₹218 crore from the sale of 114 land parcels.
The successful bids were 17.96% higher than the aggregate reserve price of approximately ₹184.8 crore, reflecting competitive participation and market-driven price discovery. The second phase marks another important step in NLMC’s efforts to monetise surplus public assets through a transparent, structured and technology-enabled auction process.
NLMC RINL Land E-Auction Generates ₹218 Crore in Second Phase
During the second phase, 114 land parcels were successfully auctioned against an aggregate reserve price of ₹184.8 crore. The total successful bid value stood at ₹218 crore, representing a premium of 17.96% over the reserve price.
The highest successful bid recorded during this phase was ₹1,82,650 per square yard. Meanwhile, the highest premium over the reserve price for an individual plot stood at 67.65%.
These results indicate sustained market interest in well-located land parcels in Visakhapatnam and highlight the effectiveness of competitive e-auctions in unlocking the economic value of surplus public assets.
Read also: NLMC Secures ₹366.33 Crore in Bids for 150 RINL Land Plots in First E-Auction Phase
RINL Land E-Auction: Performance Across Both Phases
In the first phase, conducted on October 12, 2026, NLMC successfully auctioned 150 land parcels. The auction generated successful bids worth ₹366.33 crore against an aggregate reserve price of ₹312.48 crore, achieving a premium of 17.23%.
With the conclusion of the second phase, a total of 264 land parcels have been successfully auctioned across both phases. The combined successful bid value reached ₹584.33 crore against a total reserve price of ₹497.29 crore, representing an overall premium of 17.50%.
The consolidated performance of the two phases is as follows:
Consolidated Performance of RINL Land E-Auction
– Auction Date:
- Phase I: October 12, 2026
- Phase II: November 3, 2026
– Land Parcels Successfully Auctioned:
- Phase I: 150
- Phase II: 114
- Combined: 264
– Aggregate Reserve Price:
- Phase I: ₹312.48 crore
- Phase II: ₹184.81 crore
- Combined: ₹497.29 crore
– Total Successful Bid Value:
- Phase I: ₹366.33 crore
- Phase II: ₹218 crore
- Combined: ₹584.33 crore
– Premium Over Reserve Price:
- Phase I: 17.23%
- Phase II: 17.96%
- Combined: 17.50%
The figures demonstrate consistent competitive bidding across both phases, with successful bids exceeding the aggregate reserve price in each round.
NLMC’s First End-to-End E-Auction Marks Major Milestone
The RINL land auction is NLMC’s first end-to-end e-auction initiative and marks a significant milestone in the Corporation’s operational journey.
The initiative involved several stages, including asset preparation, transaction structuring, investor outreach, bidder facilitation and the conduct of competitive online auctions. Its successful execution demonstrates NLMC’s growing capacity to manage large-scale asset monetisation transactions.
The completion of both auction phases within a span of less than a month, on October 12 and November 3, 2026, also establishes an important operational benchmark for the Corporation. The experience is expected to strengthen its ability to undertake similar monetisation exercises involving surplus land and other immovable assets of Central Public Sector Enterprises (CPSEs) and government entities.
NLMC Plans Third Round of RINL Land E-Auction
Following the successful completion of the first two phases, NLMC plans to conduct a third round of e-auction for the remaining unsold land parcels.
The proposed auction will be subject to applicable approvals and conditions. Its schedule and other details will be announced in due course.
The next phase is expected to build on the momentum generated by the earlier auctions and support NLMC’s continued efforts to accelerate the monetisation of surplus public assets through transparent and competitive processes.
RINL Land Auction Supports Government’s Asset Monetisation Objectives
The successful completion of the RINL land e-auction is an important step towards advancing the Government of India’s asset monetisation objectives. The initiative aims to unlock the economic potential of surplus and underutilised public assets while encouraging their productive utilisation.
Through structured asset preparation, stakeholder coordination and technology-driven auctions, NLMC is working to facilitate efficient management and value realisation from land and building assets held by CPSEs.
The successful auction also highlights how transparent market-based mechanisms can help determine the value of public assets and support broader economic development.
About National Land Monetization Corporation (NLMC)
The National Land Monetization Corporation (NLMC) is a wholly owned Government of India company under the administrative control of the Department of Public Enterprises, Ministry of Finance. It facilitates the identification, assessment, preparation and monetisation of surplus land and building assets held by CPSEs and other government entities through structured, transparent and market-oriented processes.
About Rashtriya Ispat Nigam Limited (RINL)
Rashtriya Ispat Nigam Limited (RINL), also known as Vizag Steel, is a public sector steel producer under the Government of India. It operates the Visakhapatnam Steel Plant in Andhra Pradesh and manufactures steel products for construction, infrastructure and other industrial applications. Its branded products include Vizag TMT rebars, which are used in a wide range of construction projects.
Read also: RINL Restarts Vizag TMT Rebar Production, Strengthens Steel Supply for Construction Sector
