NLMC’s RINL land e-auction generates Rs 366.33 crore in bids for 150 plots

New Delhi: The National Land Monetization Corporation (NLMC) has received successful bids worth Rs 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.

Follow The PSUWatch Channel on Whatsapp

The successful bid value was 17.23 percent higher than the aggregate reserve price of Rs 312.48 crore, while the highest auction price crossed Rs 1.80 lakh per square yard, according to the Ministry of Finance.

The auction marks NLMC’s first end-to-end e-auction and is part of its efforts to monetise surplus land assets held by Central Public Sector Enterprises (CPSEs) through a transparent and competitive process.

The auction was facilitated by NLMC in coordination with RINL, with Quikr India Private Limited (QIPL) acting as the transaction consultant. The online bidding process was conducted through RailTel’s E-Nivida platform.

Ahead of the auction, NLMC and RINL conducted investor outreach programmes in Visakhapatnam, Vijayawada and Hyderabad during September to familiarise prospective bidders with the properties and the bidding process. The meetings also addressed queries relating to registration, documentation, earnest money deposits (EMDs) and online bidding requirements.

Second phase scheduled for October 30

Following the first phase, NLMC will conduct the second and final phase of the current RINL land e-auction on October 30, 2026, from 11 am to 5 pm. The second phase will cover the remaining 216 land parcels in Visakhapatnam.

Interested bidders must complete their registration by October 27, 2026. Details of the available plots, reserve prices, eligibility criteria and participation requirements are available on the official e-auction portal at https://eauction.enivida.com.

Follow PSU Watch on LinkedIN

The 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, with the objective of enabling market-based price discovery and unlocking value from public assets.

(PSU Watch is India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy. 👉 Click to join our channel now: PSUWatch WhatsApp Channel. Prefer LinkedIn? Follow PSU Watch on LinkedIN. Click to stay connected on Twitter here and stay updated.)