NLMC e-auction of RINL plots in Vizag fetches ₹366 crore on Day 1
Synopsis
India's land monetisation push just logged a notable first: NLMC's debut end-to-end e-auction sold 150 RINL plots in Visakhapatnam for ₹366.33 crore — a 17.23% premium over reserve price, with the highest parcel crossing ₹1.80 lakh per square yard. With 216 more plots on the block on 30 October, the government's CPSE asset-recycling strategy is gaining real traction.
Key Takeaways
NLMC sold 150 RINL plots in Visakhapatnam for ₹366.33 crore on 13 October 2026 — its first end-to-end e-auction.
Bids averaged a premium of 17.23% over the aggregate reserve price of ₹312.48 crore .
The highest auction price crossed ₹1.80 lakh per square yard , signalling strong local market demand.
Phase 2 will cover 216 additional land parcels , rescheduled to 30 October from 11 am to 5 pm .
Bidder registration for Phase 2 closes on 27 October ; bidding is conducted via RailTel's E-Nivida platform .
The auction is part of NLMC's broader mandate to monetise surplus land held by CPSEs and other government entities.
The National Land Monetisation Corporation (NLMC) on Tuesday, 13 October 2026, sold 150 plots belonging to Rashtriya Ispat Nigam Limited (RINL) — the corporate entity operating the Visakhapatnam Steel Plant — for a total bid value of ₹366.33 crore, against an aggregate reserve price of ₹312.48 crore, according to a Finance Ministry statement. The outcome marks NLMC's first end-to-end e-auction, signalling a structured, technology-driven approach to unlocking the value of surplus public assets.
Key Auction Results
Successful bids recorded an average premium of 17.23% over the reserve price, reflecting robust market participation. The highest auction price crossed ₹1.80 lakh per square yard, pointing to strong demand for well-located land parcels in Visakhapatnam. The Finance Ministry described the price discovery as a validation of transparent, competitive auction processes in monetising public assets.
Phase Two Scheduled for October 30
Following the encouraging first-day response, the second and final phase of the e-auction will cover the remaining 216 land parcels and has been rescheduled to 30 October, from 11 am to 5 pm. Interested bidders must complete registration by 27 October. Details of available plots, reserve prices, eligibility conditions, and participation requirements are accessible on the official e-auction portal: https://eauction.enivida.com/.
How the Auction Is Being Conducted
The auction is being facilitated by the NLMC in coordination with RINL, with Quikr India Private Limited (QIPL) serving as the Transaction Consultant. Online bidding is being conducted through RailTel's E-Nivida platform. This end-to-end digital approach is part of a broader government effort to bring surplus land held by Central Public Sector Enterprises (CPSEs) to the market through transparent, market-driven processes.
Investor Outreach and Background
Ahead of the auction, NLMC and RINL conducted investor outreach activities in Visakhapatnam, Vijayawada, and Hyderabad during September. These sessions helped prospective bidders understand available properties, registration requirements, documentation, and Earnest Money Deposit (EMD) norms. The outreach was aimed at widening participation and ensuring informed bidding. Notably, this auction is part of NLMC's wider mandate to facilitate productive utilisation of surplus land assets held by government entities — a mandate that has gained urgency as RINL, the loss-making Visakhapatnam Steel Plant operator, faces significant financial stress.
What Comes Next
With Phase 1 delivering a ₹366.33 crore realisation at a premium, attention now turns to Phase 2 and whether the remaining 216 parcels can sustain similar investor appetite. A strong Phase 2 outcome could reinforce the case for accelerating CPSE land monetisation across other stressed public sector units. The final results will be a key data point for policymakers assessing NLMC's role in broader asset-recycling strategy.
Point of View
But the harder question is what it signals about RINL's broader financial rehabilitation. The Visakhapatnam Steel Plant has been a persistent drag on public finances, and land sales — however well-priced — are a one-time lever, not a structural fix. The 17.23% average premium is encouraging, but it reflects demand for Vizag real estate more than investor confidence in RINL as a going concern. Policymakers would do well to treat this auction revenue as a bridge, not a solution, and press ahead with a credible long-term plan for the plant's future — whether revival, privatisation, or orderly restructuring.
NationPress
13 Oct 2026
Frequently Asked Questions
What is the NLMC e-auction of RINL plots in Visakhapatnam?
It is a government-led e-auction of surplus land parcels belonging to Rashtriya Ispat Nigam Limited (RINL), the operator of the Visakhapatnam Steel Plant, facilitated by the National Land Monetisation Corporation (NLMC). The first phase, held on 13 October 2026, sold 150 plots for ₹366.33 crore — a 17.23% premium over the reserve price — through RailTel's E-Nivida digital platform.
When is Phase 2 of the RINL land auction scheduled?
Phase 2 of the e-auction is scheduled for 30 October 2026, from 11 am to 5 pm. It will cover the remaining 216 land parcels, and interested bidders must complete their registration by 27 October.
What was the highest price achieved in the Day 1 auction?
The highest auction price crossed ₹1.80 lakh per square yard, according to the Finance Ministry statement. This strong price discovery was cited as evidence of robust demand for well-located land parcels in Visakhapatnam.
Who is facilitating the RINL e-auction and through what platform?
The auction is being facilitated by NLMC in coordination with RINL. Quikr India Private Limited (QIPL) is serving as the Transaction Consultant, and the online bidding process is being conducted through RailTel's E-Nivida platform.
Why is NLMC selling RINL land in Visakhapatnam?
The sale is part of the Centre's broader effort to monetise surplus land held by Central Public Sector Enterprises (CPSEs) and other government entities. RINL, which operates the financially stressed Visakhapatnam Steel Plant, holds land that can be brought to productive use through market-driven, transparent auction processes — generating revenue while reducing idle public assets.
