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The National Land Monetisation Corporation (NLMC) recorded Rs 366.33 crore in successful bids on the first day of its maiden end-to-end e-auction of land parcels belonging to Rashtriya Ispat Nigam Limited (RINL), according to the Ministry of Finance.
A total of 150 plots were sold during the initial phase against an aggregate reserve price of Rs 312.48 crore, representing an average premium of 17.23 per cent over the baseline valuation. The transaction involved land owned by RINL, the corporate entity that operates the Visakhapatnam Steel Plant. The Ministry stated that the outcome marked an operational milestone for the corporation. "The first phase marks a significant milestone for NLMC, as it is the Corporations first end-to-end e-auction, demonstrating a structured, transparent and technology-driven approach towards monetising surplus public assets." Bidding activity yielded a peak valuation exceeding Rs 1.80 lakh per square yard for select locations. "This strong price discovery reflects robust market demand for well-located land parcels in Visakhapatnam. It underscores the role of a transparent and competitive e-auction process in unlocking the economic potential of public assets," the Ministry added. NLMC, functioning under the Department of Public Enterprises within the Ministry of Finance, conducted the bidding in coordination with RINL. Quikr India Private Limited served as the transaction consultant, while the digital bidding took place on RailTels E-Nivida portal. The exercise forms part of an initiative targeting the productive utilisation of surplus land held by Central Public Sector Enterprises. Ahead of the auction, NLMC and RINL conducted investor outreach sessions across Visakhapatnam, Vijayawada, and Hyderabad in September 2026. The sessions addressed participant requirements concerning registration, documentation, earnest money deposits, and platform bidding procedures. "The response to the auction demonstrates the potential of well-structured market processes to attract investor interest and support value realisation from surplus government assets," the Ministry said. The second and final phase of the e-auction covers the remaining 216 land parcels. The bidding window is rescheduled to October 30, 2026, between 11:00 AM and 5:00 PM. Prospective buyers must complete mandatory registrations by October 27, 2026, through the official portal to participate in the concluding round. (ANI)
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