The National Land Monetization Corporation (NLMC) raised ₹366.33 crore on 12 October 2026 by auctioning land parcels owned by Rashtriya Ispat Nigam Limited (RINL). The first phase sold 150 plots, against an aggregate reserve price of ₹312.48 crore, at an average premium of 17.23% over the baseline valuation.
Land Monetisation and NLMC
Land monetisation involves realising value from land assets through mechanisms such as sale or lease. NLMC is a wholly owned Government of India company under the Ministry of Finance that facilitates the monetisation of surplus land and other non-core assets held by public sector entities.
The auction concerns 459 land parcels in Visakhapatnam. The parcels include residential plots in HB Colony and Maddilapalem, and commercial or residential plots in Auto Nagar and Gajuwaka. Bids for select locations in Visakhapatnam exceeded ₹1.80 lakh per square yard.
E-Auction Process
RailTel’s E-Nivida e-procurement platform is being used to conduct the auction in two sessions. The second session is scheduled for 16 October 2026. E-auctions use electronic bidding to receive and process offers through an online platform.
Before the auction, NLMC and RINL held investor outreach programmes in Visakhapatnam, Vijayawada and Hyderabad in September 2026. The reserve price is the minimum benchmark set for bidding; the first-day aggregate bids exceeded that benchmark by ₹53.85 crore.
RINL and Public Assets
RINL is a Central Public Sector Enterprise in the steel sector and operates the Visakhapatnam Steel Plant. The auction covers RINL land parcels rather than the sale of the steel plant. NLMC’s role in this transaction is to facilitate the sale of surplus public assets.
Important Facts for Exams
:
- NLMC is a wholly owned Government of India company under the Ministry of Finance.
- RINL operates the Visakhapatnam Steel Plant and belongs to the steel sector.
- The first auction phase sold 150 plots from an initiative covering 459 land parcels.
- RailTel’s E-Nivida platform is the electronic platform used for the auction.
The second auction session is scheduled for 16 October 2026. The first phase recorded an average bid premium of 17.23% over the reserve valuation.
