Canbank Venture Capital Fund Invests INR160 Million in Anand Teknow Aids Engineering India (Asia)

Source: Business Standard

Canbank Venture Capital Fund, a wholly-owned venture capital subsidiary of Canara Bank, has acquired a five percent stake in India-based Anand Teknow Aids Engineering India, a provider of engineering products for the oil and gas industry, for INR160 million (approximately US$2.5 million). The transaction was structured through Canbank’s Emerging India Growth Fund. The company intends to use the capital to expand its ball valve plant near Pune.