India, Oct. 13 -- The National Land Monetization Corporation (NLMC), under the Department of Public Enterprises, Ministry of Finance, has generated successful bids worth Rs 366.33 crore through the first phase of its e-auction of land parcels belonging to Rashtriya Ispat Nigam Ltd (RINL), which operates the Visakhapatnam Steel Plant.
A total of 150 plots were sold against an aggregate reserve price of Rs 312.48 crore, registering an average premium of 17.23% over the reserve price. The highest auction price exceeded Rs 1.80 lakh per square yard.
The e-auction marks NLMC's first end-to-end auction and is aimed at facilitating transparent and competitive monetisation of surplus public assets. The process was conducted through RailTel's E-Ni...