The National Land Monetization Corporation (NLMC), under the Department of Public Enterprises, Ministry of Finance, conducted physical and online mock e-auction training sessions on October 6-7, 2026 to prepare prospective bidders for the upcoming e-auction of 459 land parcels belonging to Rashtriya Ispat Nigam Limited (RINL), the corporate entity of Visakhapatnam Steel Plant. The training sessions provided hands-on experience with the digital bidding platform and covered the bidding interface, participation procedures, and key aspects of the online auction process.
The land portfolio comprises 459 premium, encumbrance-free plots aggregating 93,572.21 square yards located in Visakhapatnam areas including HB Colony, Maddilapalem, Auto Nagar, and Gajuwaka. The plots range in size from approximately 128.94 square yards to 2,728 square yards, offering various options across different locations.
The auction will be conducted in two phases through a transparent e-tender-cum-e-auction process on the RailTel E-Nivida e-Procurement Platform, with Quikr India Pvt. Ltd. serving as the Transaction Consultant. Phase 1 on October 12, 2026 from 11:00 AM to 7:00 PM will auction 243 plots, while Phase 2 on October 16, 2026 during the same hours will auction 216 plots. Prospective bidders must submit ₹2 lakh Earnest Money Deposit per plot and complete registration by October 8, 2026 at 5:00 PM for Phase 1, and by October 14, 2026 at 5:00 PM for Phase 2.
NLMC conducted investor meets in Visakhapatnam, Vijayawada, and Hyderabad to provide detailed information about the land parcels, auction process, eligibility requirements, and related procedures. CEO NLMC Shri Rohan Chand Thakur emphasized that these initiatives aim to ensure a transparent, accessible, and participant-friendly auction process while providing adequate opportunity for bidders to understand the platform and complete necessary formalities within prescribed timelines. The RINL land auction represents a significant asset monetization opportunity as part of the government's broader objective of unlocking value from under-utilized public sector assets through structured processes.