Canbank Venture Capital Fund Limited (CVCFL) has invested INR 16 crore in return for a 5% stake in Anand Teknow Aids Engineering India Ltd, a Rs 300-crore closely-held public limited company manufacturing engineering products for the oil and gas sector in India and Gulf. The funds will be used to expand the company’s ball valve plant at Talawade near Pune. CVCFL has made the investment from its INR 435 crore Emerging India Growth Fund.
Anand Teknow has two plants for the manufacture of ball valves at Talawade and Chinchawad near Pune (India). The company’s clients consist of 31 refineries including 15 from the Gulf region and Malaysia.
Source: Business Standard
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