In Pune IT City Metro Rail, a special purpose vehicle that obtained the contract to build, run, and maintain the project between Shivaji Nagar and Hinjewadi in the city, Tata Sons, the holding company of the Tata group, is investing Rs 975 crore.
74% of the SPV is owned by the Tatas, and the other 25% is owned by Siemens Project Ventures. According to a financial source, the 23-km, Rs 7,420-crore project is being financed with a debt-to-equity ratio of 1.8 times, the full debt has been secured, and Tata Sons is supporting the planned equity participation. The Maharashtra and Union governments each have a 50% share in the development of the Pune metro rail.
Tata Realty and Infrastructure (TRIL), a subsidiary of Tata Sons, is making the aforementioned investment in the metro rail SPV.
