New Delhi, 13 October (H.S.): The National Land Monetisation Corporation (NLMC) successfully conducted the first-day e-auction of 150 premium plots belonging to Rashtriya Ispat Nigam Limited (RINL), the corporate entity operating the Visakhapatnam Steel Plant, on Tuesday, generating Rs 366.33 crore for the government.
According to a statement issued by the Ministry of Finance, the first online auction of plots belonging to Rashtriya Ispat Nigam Limited, facilitated by the National Land Monetisation Corporation, attracted successful bids totalling Rs 366.33 crore on the opening day, with 150 plots sold. The auction was conducted by the NLMC under the Department of Public Enterprises, Ministry of Finance.
According to the ministry, 150 plots offered in the first phase were successfully sold. Against a total reserve price of Rs 312.48 crore, the successful bids amounted to Rs 366.33 crore. The auction thus recorded an average premium of 17.23 per cent over the reserve price, reflecting market participation and strong interest in the properties on offer.
The Ministry of Finance said the auction achieved favourable price realisation, with the highest bid exceeding Rs 1.80 lakh per square yard. This demonstrated strong market demand for plots in prime locations in Visakhapatnam. The results also highlighted the role of transparent and competitive e-auction mechanisms in unlocking the economic value of public assets.
The ministry stated that the NLMC is facilitating the auction in coordination with Rashtriya Ispat Nigam Limited, with Quikr India Private Limited serving as the transaction adviser. The online bidding process is being conducted through RailTel’s e-tendering platform.
## Second and Final Phase of RINL E-Auction on October 30
Following the encouraging response to the first phase, the second and final phase of the e-auction will cover the remaining 216 plots. The auction is scheduled to take place on October 30, 2026, from 11 a.m. to 5 p.m.
Interested bidders must complete their registration by October 27, 2026. Details regarding the available plots, reserve prices, eligibility criteria and participation requirements can be accessed through the official e-auction portal: [https://eauction.enivida.com/](https://eauction.enivida.com/)
## About the National Land Monetisation Corporation
The National Land Monetisation Corporation is a government-owned company under the Department of Public Enterprises, Ministry of Finance. It facilitates the monetisation of surplus land and building assets held by Central Public Sector Enterprises (CPSEs) and other government agencies.
The NLMC works in coordination with asset-owning organisations to systematically identify, prepare and monetise such assets through transparent, market-oriented processes. Its objective is to unlock the economic value of surplus public assets through structured and competitive mechanisms.
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Hindusthan Samachar / Jun Sarkar
