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Canara Bank's subsidiary picks up stake worth Rs 25 crore in Ashapura Garments

09 Apr 2013 Evaluate

Canbank Venture Capital Fund (CVCFL), an wholly owned subsidiary of Canara Bank, has acquired stake worth Rs 25 crore in Gujarat-based Ashapura Garments (AGL). The raised fund will be used to part finance the setting up of a state of art manufacturing facility of AGL at SEZ in Gujarat.

AGL is manufacturers of jeans and casual wear for men and women and primarily has presence in Andhra Pradesh, Madhya Pradesh, Tamil Nadu, Punjab, Karnataka, Gujarat, Kerala, Rajasthan, Orissa, Maharashtra, West Bengal, Haryana. Internationally, the company caters to Europe, Asia and North America.

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