The National Land Monetization Corporation (NLMC) has secured successful bids worth ₹366.33 crore from the first phase of its RINL land e-auction in Visakhapatnam. Buyers secured 150 plots, with bids exceeding the combined reserve price by 17.23 per cent.
The auction covered surplus land parcels belonging to Rashtriya Ispat Nigam Limited (RINL), which operates the Visakhapatnam Steel Plant. According to the Ministry of Finance, the successful bids exceeded the aggregate reserve price of ₹312.48 crore.
The highest auction price crossed Rs 1.80 lakh per square yard. Meanwhile, the second and final phase will offer the remaining 216 plots on October 30, 2026.
NLMC conducted the first phase as its first end-to-end e-auction. The exercise aims to unlock the economic value of surplus public assets through a transparent, technology-driven bidding process.
RINL land e-auction records 17.23% premium over reserve price
The first phase generated successful bids worth ₹366.33 crore against a combined reserve price of ₹312.48 crore.
The results indicate a premium of 17.23 per cent over the reserve price. Additionally, the highest bid crossed ₹1.80 lakh per square yard, highlighting the price discovery achieved through competitive bidding.
| Auction metric | First-phase result |
| Plots sold | 150 |
| Successful bid value | ₹366.33 crore |
| Aggregate reserve price | ₹312.48 crore |
| Premium over reserve price | 17.23% |
| Highest auction price | Above ₹1.80 lakh per sq. yard |
| Remaining plots | 216 |
The results provide an early indication of bidder interest in the land parcels offered in Visakhapatnam. However, the reported figures represent successful bid values rather than confirmed final receipts from completed transactions.
NLMC conducts first end-to-end public asset e-auction
NLMC operates under the Department of Public Enterprises in the Ministry of Finance. It facilitates the monetisation of surplus land and other assets held by Central Public Sector Enterprises (CPSEs) and government entities.
The RINL land e-auction marks the corporation’s first end-to-end auction exercise. It brings identified public assets to the market through a structured online bidding process.
NLMC coordinated the auction with RINL, while Quikr India Private Limited served as the transaction consultant. RailTel’s E-Nivida platform hosted the online bidding process.
Furthermore, the process aims to encourage participation from prospective buyers and support transparent price discovery. The approach allows asset-owning organisations to explore the economic potential of surplus properties.
The auction forms part of broader efforts to improve the utilisation of government-owned assets. Its outcome could also provide a reference point for future land monetisation exercises involving public sector enterprises.
NLMC held investor outreach meetings before auction
Ahead of the auction, NLMC and RINL conducted investor outreach meetings in Visakhapatnam, Vijayawada and Hyderabad during September 2026.
The meetings helped prospective bidders understand the available properties and the participation process. Participants could also seek clarifications about registration, documentation and eligibility requirements.
Additionally, the outreach covered earnest money deposit (EMD) requirements and online bidding procedures. These activities aimed to widen awareness and help interested buyers prepare their bids.
The first-phase results now provide prospective participants with information about bidding activity and price discovery. However, buyers should assess individual plots and their requirements before participating in the next phase.
RINL land e-auction second phase scheduled for October 30
NLMC has scheduled the second and final phase for October 30, 2026. The auction will run from 11 am to 5 pm and cover the remaining 216 land parcels.
Interested bidders must complete registration by October 27, 2026. They can review plot details, reserve prices, eligibility conditions and participation requirements through the official auction portal.
Auction details
- Auction date: October 30, 2026
- Timing: 11 am to 5 pm
- Plots on offer: 216
- Registration deadline: October 27, 2026
- Official portal: E-Nivida e-auction portal
Prospective buyers should review the available documents and conduct due diligence before registering. They must also complete the required formalities within the prescribed timeline.
The final phase will provide another opportunity to acquire land parcels in Visakhapatnam. Meanwhile, the first phase has established a benchmark for the current auction through its successful bids and reported price premiums.
