The National Land Monetization Corporation (NLMC) has received successful bids worth Rs 366.33 crore for 150 land plots owned by Rashtriya Ispat Nigam Limited (RINL). The results mark the completion of the first phase of the company’s land e-auction.
RINL operates the Visakhapatnam Steel Plant. The auction forms part of efforts to unlock value from surplus land assets held by central public sector enterprises (CPSEs) and other government entities.
Ahead of the bidding process, NLMC and RINL organised investor outreach programmes in Visakhapatnam, Vijayawada and Hyderabad during September. These meetings familiarised prospective bidders with the available properties and the auction process.
The sessions also addressed questions about bidder registration, documentation, earnest money deposits and online bidding requirements. The outreach was aimed at helping interested parties understand the process before participating in the auction.
The second and final phase of the current RINL land e-auction is scheduled for October 30, 2026. Bidding will take place from 11 am to 5 pm and 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 NLMC-RINL e-auction portal.
The next phase will offer another opportunity for prospective buyers to bid for the remaining properties. The final outcome will depend on the bids received for these parcels during the scheduled auction. The NLMC land auction is part of the government’s broader asset monetisation initiative. The objective is to encourage productive use of surplus land held by CPSEs and other government bodies.
The process also seeks to establish market-based prices through competitive bidding. By bringing such assets to the market, the government aims to unlock their economic value and improve their utilisation.
The first phase has generated successful bids worth Rs 366.33 crore for 150 plots. The upcoming auction will determine the response to the remaining 216 parcels and the value that the next phase can unlock.
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