Hyderabad: The National Land Monetization Corporation concluded a three-city outreach programme for the RINL land e-auction. The programme covered 459 land parcels of Rashtriya Ispat Nigam Limited, the corporate entity of Visakhapatnam Steel Plant.
NLMC operates under the Department of Public Enterprises in the Ministry of Finance, Government of India. The outreach programme aimed to brief prospective buyers, investors, developers and other stakeholders ahead of the scheduled October auction.
Investor Meets were held in Visakhapatnam on September 23, Vijayawada on September 24 and Hyderabad on September 25. Officials provided information about the land portfolio and explained procedures linked to the upcoming e-auction.
More than 150 prospective buyers and stakeholders attended the Visakhapatnam meeting in person. More than 50 additional participants joined through video conferencing, including NRIs and prospective buyers based outside India.
During the Visakhapatnam interaction, officials addressed questions from participants about the properties and eligibility. They also responded to queries concerning the auction process and other transaction-related aspects.
The subsequent meetings in Vijayawada and Hyderabad drew approximately 50–60 participants each. Prospective buyers and other stakeholders attended the sessions to seek information about the properties and auction procedures.
RINL land e-auction details discussed with investors
Across the three cities, officials explained the location and characteristics of the land parcels. Discussions also covered plot sizes, applicable terms and conditions, and eligibility requirements for prospective participants.
The sessions further addressed registration procedures and the Earnest Money Deposit. Officials also explained the bidding process and other requirements relevant to participation in the RINL land e-auction.
Executive Director, NLMC, Pradeep Kumar, addressed participants during the outreach programme. General Manager, NLMC, Sunil Sahu, and General Manager (HR), RINL, Binay Prasad, also responded to queries.
Questions from participants joining through video conferencing were addressed during the Visakhapatnam interaction. These participants included NRIs and prospective buyers based outside India.
The three-city programme was conducted to provide detailed information before the scheduled October auction. The interactions gave prospective buyers and other stakeholders an opportunity to seek clarification about the land parcels and participation requirements.