New Delhi, Nov. 4 -- The government's land monetisation exercise involving Rashtriya Ispat Nigam Limited (RINL) has generated successful bids worth Rs 584.33 crore from the auction of 264 land parcels across two phases, with the National Land Monetization Corporation (NLMC) planning a third round shortly to sell the remaining plots.

The second phase of the e-auction, conducted on November 3 in Visakhapatnam, generated successful bids worth Rs 218 crore from 114 land parcels, against an aggregate reserve price of Rs 184.81 crore. The bids represented a premium of 17.96 per cent over the reserve price, the Ministry of Finance said in a release on Wednesday.

With this, the combined value of successful bids across both phases reached Rs 584...