LMC generates Rs 366.33 crore on Day 1 of RINL land e-auction, 150 plots sold
The National Land Monetisation Corporation generated Rs 366.33 crore by selling 150 RINL land plots in its first major e-auction phase.
In a massive boost to the monetization of public assets, the National Land Monetisation Corporation (NLMC) has recorded a staggering Rs 366.33 crore in successful bids on the very first day of its maiden e-auction for land parcels belonging to Rashtriya Ispat Nigam Limited (RINL).
Massive Premium Over Reserve Price
The initial phase of the auction, which focused on land owned by the Visakhapatnam Steel Plant operator, saw the sale of 150 plots. What makes this achievement particularly noteworthy is the financial performance against the baseline valuation. While the aggregate reserve price for these plots was set at Rs 312.48 crore, the final bids surged to Rs 366.33 crore, representing an average premium of 17.23 per cent.
The bidding frenzy saw intense competition, with some select locations reaching peak valuations exceeding Rs 1.80 lakh per square yard. This high level of price discovery indicates a robust market demand for strategically located land in the Visakhapatnam region.
A Milestone for Asset Monetisation
The Ministry of Finance highlighted that this successful outcome serves as a major operational milestone for the NLMC. Operating under the Department of Public Enterprises, the corporation aims to use technology-driven approaches to unlock the economic potential of surplus land held by Central Public Sector Enterprises (CPSEs).
"The first phase marks a significant milestone for NLMC, as it is the Corporation’s first end-to-end e-auction, demonstrating a structured, transparent and technology-driven approach towards monetising surplus public assets," the Ministry stated.
Technical Details of the Auction
To ensure a seamless and transparent process, the auction was conducted with several key stakeholders:
- Digital Platform: The bidding was hosted on RailTel’s E-Nivida portal.
- Transaction Consultant: Quikr India Private Limited managed the transaction aspects.
- Investor Outreach: Prior to the auction, intensive sessions were held in Visakhapatnam, Vijayawada, and Hyderabad to guide investors through registration and bidding procedures.
What Happens Next?
The auction process is far from over. The second and final phase is set to cover the remaining 216 land parcels. Investors looking to participate in this concluding round must adhere to the following timeline:
- Mandatory Registration Deadline: October 27, 2026.
- Bidding Window: October 30, 2026, between 11:00 AM and 5:00 PM.
The Ministry remains optimistic, noting that the initial response proves how well-structured market processes can successfully attract investor interest and maximize value from government-held assets.