Pune: CIDCO to Hold Majority Stake in Proposed Purandar International Airport SPV
Pune, 20th February 2026: The Maharashtra government has finalised the equity structure for the proposed Purandar International Airport project, paving the way for the formation of a joint venture company to execute the ambitious infrastructure plan.
Under the approved structure, the City and Industrial Development Corporation (CIDCO) will hold a majority 51 percent stake in the special purpose vehicle (SPV). The remaining equity will be divided among the Maharashtra Airport Development Company (MADC) with 19 percent, while the Maharashtra Industrial Development Corporation (MIDC) and the Pune Metropolitan Region Development Authority (PMRDA) will each hold 15 percent.
The state Cabinet recently approved raising nearly ₹6,000 crore through loans to fund land acquisition for the project. With the shareholding pattern now finalised, responsibility for loan repayment will be proportionately distributed among the participating agencies according to their respective equity stakes.
Officials said MADC has already sanctioned ₹760 crore as its share of the project funding, while PMRDA and MIDC are expected to complete approval of their respective financial contributions soon.
For land acquisition in Purandar taluka, the Pune District Collector will serve as the chief coordinator. On-ground implementation of the acquisition process has been entrusted to MIDC, which will function as the nodal agency.
The decision to establish a joint venture company was originally taken nearly seven years ago. With the equity structure now formally determined, the project is expected to move from the planning stage toward active implementation.
