Tata Sons is making an investment of Rs 975 crore in Pune IT City Metro Rail, a special purpose vehicle that has won the contract to construct, operate, and maintain the project connecting Shivaji Nagar and Hinjewadi in the city.

Tatas own a 74 percent stake in the SPV; the rest is owned by Siemens Project Ventures.

The 23-km project worth Rs 7,420 crore is being financed through debt-to-equity of 1.8 times and the entire debt has been tied up, and the envisaged equity commitment is supported by Tata Sons.

TRIL is planning to sell its recently commissioned roads and ropeway projects to raise funds and retire its own debt.

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