The refinancing follows the transfer of 100 per cent ownership of L&TMRHL from Larsen & Toubro to the Government of Telangana through Hyderabad Metro Rail (HMRL), transforming the metro network into a strategic public mobility asset under state ownership and creating a stronger financial foundation for the phased expansion of Hyderabad's metro ecosystem.

The facility will refinance existing debt obligations, including non-convertible debentures (NCDs), commercial papers and term loans, enabling an orderly exit for existing lenders while significantly improving the project's long-term financial sustainability.