New Delhi: National Land Monetization Corporation (NLMC) has generated Rs 584.33 crore through the successful auction of 264 surplus land parcels belonging to Rashtriya Ispat Nigam Limited (RINL), the operator of Visakhapatnam Steel Plant, across two phases of e-auction.
The second phase, concluded on November 3, resulted in the sale of 114 land parcels for Rs 218 crore against a combined reserve price of Rs 184.81 crore, registering a premium of 17.96 percent.
The highest successful bid in the second phase stood at Rs 1,82,650 per square yard, while the highest premium recorded for an individual plot was 67.65 percent.
In the first phase, held on October 12, NLMC had auctioned 150 land parcels for Rs 366.33 crore against an aggregate reserve price of Rs 312.48 crore, achieving a premium of 17.23 percent.
With the completion of both phases, the total successful bid value has reached Rs 584.33 crore against a combined reserve price of Rs 497.29 crore, representing an overall premium of 17.50 percent.
Consolidated Performance of RINL Land E-Auction
| Particulars | Phase I | Phase II | Combined |
|---|---|---|---|
| Auction Date | 12-Oct-26 | 03-Nov-26 | — |
| Land Parcels Successfully Auctioned | 150 | 114 | 264 |
| Aggregate Reserve Price of Successful Plots | ₹312.48 crore | ₹184.81 crore | ₹497.29 crore |
| Total Successful Bid Value | ₹366.33 crore | ₹218 crore | ₹584.33 crore |
| Premium Over Reserve Price | 17.23% | 17.96% | 17.50% |
The RINL land auction marks NLMC's first end-to-end e-auction initiative and is a significant milestone in its efforts to monetise surplus public sector assets through transparent and competitive processes.
The exercise involved asset preparation, transaction structuring, investor outreach, bidder facilitation and online auctions. The successful completion of both phases within a month has also strengthened NLMC's capabilities to undertake similar monetisation exercises involving surplus land and other immovable assets of Central Public Sector Enterprises (CPSEs).
NLMC plans to conduct a third round of e-auction shortly for the remaining unsold land parcels, subject to applicable approvals and conditions. The schedule and other details will be announced separately.
The corporation, under the Department of Public Enterprises (DPE), Ministry of Finance, is mandated to facilitate the monetisation of surplus and underutilised assets of CPSEs and government entities.
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