The National Land Monetization Corporation (NLMC) has received successful bids worth ₹366.33 crore by selling 150 land plots belonging to Rashtriya Ispat Nigam Limited (RINL), which operates the Visakhapatnam Steel Plant.
The successful bids exceeded the aggregate reserve price of ₹312.48 crore by 17.23%, indicating strong bidder interest in the properties offered during the first phase of the e-auction.
The highest bid exceeded ₹1.80 lakh per square yard. This auction marks NLMC’s first end-to-end e-auction and forms part of the government’s efforts to unlock value from surplus assets held by Central Public Sector Enterprises (CPSEs).
NLMC has initiated this auction process in collaboration with RINL, with Quikr India Private Limited (QIPL) serving as the transaction advisor. Interested bidders can submit their bids via RailTel’s E-Nivida online platform. Investor awareness programs were also held in Visakhapatnam, Vijayawada, and Hyderabad in September 2026 to inform potential buyers about the available land and the bidding process.
The second and final phase for the remaining 216 plots will be held on October 30, 2026, from 11:00 AM to 5:00 PM. Interested bidders must complete their registration by October 27, 2026.
Prospective bidders can visit the official E-Nivida e-auction portal for information regarding available land parcels, reserve prices, eligibility criteria, and the bidding process.
(PIB)
