The National Land Monetization Corporation (NLMC), under the Department of Public Enterprises, Ministry of Finance, successfully conducted the first phase of its inaugural end-to-end e-auction of premium land parcels belonging to Rashtriya Ispat Nigam Limited (RINL), operator of Visakhapatnam Steel Plant. This structured, transparent, and technology-driven process represents a significant milestone in NLMC's mandate to monetize surplus public assets.
On Day 1 of the auction, 150 plots were sold, generating a total successful bid value of ₹366.33 crore against an aggregate reserve price of ₹312.48 crore, achieving an average premium of 17.23% over reserve prices. The auction demonstrated robust market demand with the highest price realization crossing ₹1.80 lakh per square yard for well-located land parcels in Visakhapatnam.
The auction was facilitated by NLMC in coordination with RINL, with Quikr India Private Limited serving as Transaction Consultant and the online bidding process conducted through RailTel's E-Nivida platform. Prior to the auction, NLMC and RINL conducted investor outreach activities in Visakhapatnam, Vijayawada, and Hyderabad during September 2026 to address queries regarding registration, documentation, Earnest Money Deposit requirements, and online bidding procedures.
A second and final phase of the e-auction is scheduled for October 30, 2026, from 11:00 AM to 5:00 PM, offering the remaining 216 land parcels. Interested bidders must complete registration by October 27, 2026, with details available on the official e-auction portal at https://eauction.enivida.com/. This phase represents the final opportunity for prospective buyers to acquire land parcels in key Visakhapatnam locations through this auction process.