The second phase of the land e-auction for Rashtriya Ispat Nigam Limited (RINL), which runs the Visakhapatnam Steel Plant, closed on 3 November with 114 plots sold for ₹218 crore, nearly 18% above their reserve price.
The National Land Monetization Corporation (NLMC), under the Department of Public Enterprises in the Finance Ministry, said the aggregate reserve price of the sold plots was ₹184.8 crore, giving an overall premium of 17.96%. The highest successful bid was ₹1,82,650 per square yard, and the highest premium on a single plot was 67.65% over its reserve.
Both phases together
- Phase I (12 October): 150 parcels sold for ₹366.33 crore, a 17.23% premium over reserve.
- Phase II (3 November): 114 parcels sold for ₹218 crore, a 17.96% premium.
- Combined: 264 parcels sold for ₹584.33 crore, a 17.50% premium.
The combined reserve price for the 264 parcels was ₹497.29 crore.
What next
NLMC called this its first end-to-end e-auction. It said it plans a third round "shortly" for the unsold parcels, subject to approvals, with details to be announced later.
Source: official release by the Ministry of Finance, issued through the Press Information Bureau, Government of India (04 NOV 2026 11:48AM by PIB Delhi). Read the full official text: NLMC Successfully Concludes Second Phase of RINL Land E-Auction at Visakhapatnam on 3rd November 2026, Generates ₹218 Crore in Successful Bids.
How we verified this
VerifiedEvery fact, figure and quotation is taken from the official PIB release (Release ID 2332381) issued by the Ministry of Finance on 04 NOV 2026 11:48AM by PIB Delhi; checked against the source on publication. Story written by BDT from that release; no outside facts added.
Sources
- 1.NLMC Successfully Concludes Second Phase of RINL Land E-Auction at Visakhapatnam on 3rd November 2026, Generates ₹218 Crore in Successful Bids — Press Information Bureau, Government of India
