NLMC raises ₹218 crore through second phase of RINL land e-auction in Visakhapatnam
The National Land Monetisation Corporation auctioned 114 land parcels belonging to Rashtriya Ispat Nigam Limited, securing bids 17.96% above the aggregate reserve price and taking total realisations from two phases
The RINL land transaction marks NLMC's first end-to-end e-auction initiative.
VISAKHAPATNAM: The National Land Monetisation Corporation (NLMC) has raised ₹218 crore through the second phase of its e-auction of land parcels belonging to Rashtriya Ispat Nigam Limited (RINL), the corporate entity operating Visakhapatnam Steel Plant.
The auction, concluded on November 3, resulted in the successful sale of 114 land parcels against an aggregate reserve price of ₹184.81 crore. The successful bids represented a premium of 17.96% over the reserve price.
The highest successful bid in the second phase was ₹1,82,650 per square yard, while the highest premium over the reserve price for an individual plot stood at 67.65%.
The second phase builds on the first auction held on October 12, 2026, in which 150 land parcels were successfully auctioned for ₹366.33 crore against a reserve price of ₹312.48 crore, representing a premium of 17.23%.
With both phases completed, 264 land parcels have been auctioned, generating combined successful bids of ₹584.33 crore against a total reserve price of ₹497.29 crore. The overall premium across the two phases stands at 17.50%.
Third auction round planned
NLMC plans to conduct a third round of e-auction for the remaining unsold land parcels, subject to applicable approvals and conditions. The schedule and other details will be announced separately.
The RINL land transaction marks NLMC’s first end-to-end e-auction initiative. The corporation handled the process across asset preparation, transaction structuring, investor outreach, bidder facilitation and competitive online auctions.
The two phases were completed within a span of less than a month, establishing an operational benchmark for NLMC’s future monetisation exercises involving surplus land and other immovable assets of Central Public Sector Enterprises and government entities.
NLMC, a wholly owned Government of India company under the Department of Public Enterprises, Ministry of Finance, facilitates the identification, assessment, preparation and monetisation of surplus land and building assets held by public-sector enterprises and other government entities.
The initiative forms part of the government’s broader effort to unlock economic value from surplus and underutilised public assets through structured, transparent and market-oriented processes.
