The National Land Monetization Corporation (NLMC) under the Ministry of Finance successfully concluded the second phase of the e-auction of land parcels belonging to Rashtriya Ispat Nigam Limited (RINL) in Visakhapatnam on 3 November 2026.
According to the release, the second phase resulted in the successful sale of 114 land parcels, generating a total successful bid value of ₹218 crore against an aggregate reserve price of ₹184.8 crore. The successful bids achieved an overall premium of 17.96% over the aggregate reserve price. Across both phases, a total of 264 land parcels have been successfully auctioned, generating an aggregate successful bid value of ₹584.33 crore.
Following the completion of the first two phases, the NLMC plans to conduct a third round of e-auctions for the remaining unsold land parcels, subject to applicable approvals and conditions.
What it means
- NLMC plans to conduct a third round of e-auction for remaining unsold land parcels subject to approvals.
Source
Press Information Bureau, Government of India, “NLMC Successfully Concludes Second Phase of RINL Land E-Auction at Visakhapatnam on 3rd November 2026, Generates ₹218 Crore in Successful Bids”. Read the original release.
Summary of an official release for general information only. Not investment advice. Read the original source before acting on any information.
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