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SBL Energy Limited, a prominent manufacturer of mining and industrial explosives in India, has secured INR 325 crores in growth capital from several esteemed investors, including Synergy Capital, India SME Investments, and renowned capital market investor Mr. Mukul Mahavir Agrawal. This funding will be utilized by SBL to augment its manufacturing capacity in India and introduce new products to the market.
With nearly three decades of operations, SBL Energy stands as the second largest industrial explosives player in India, boasting approximately 10% market share. Serving both the mining and infrastructure sectors, the company is also expanding its presence in the defense sector. Besides catering to domestic companies, SBL exports its entire product range and services to clients across more than 20 countries.
Mr. Sanjay Choudhari, Director of SBL Energy Limited, expressed enthusiasm about the partnership with Synergy Capital, India SME Investments, and Mr. Mukul Agrawal. He highlighted their forward-thinking approach and their potential to assist SBL in becoming a leading global manufacturer and supplier of explosives and accessories. The infusion of funds underscores SBL’s commitment to enhancing its product and service delivery capabilities and reinforces its leadership position in the industry.
Mr. Sudhir Maheshwari, Founder & Managing Partner of Synergy Capital, expressed delight in collaborating with SBL, emphasizing the company’s expertise in industrial and mining explosives manufacturing. He expressed eagerness to support SBL in its national and international expansion endeavors.
Similarly, Mr. Mitin Jain, Managing Partner of India SME Investments, reiterated their confidence in SBL Energy’s entrepreneurial spirit and its role in India’s economic growth. He expressed excitement about partnering with SBL and pledged support to the founders in unlocking the value created by them over the past three decades.
SBL Energy has appointed BDO India as its exclusive financial advisor and Cyril Amarchand Mangaldas as its legal advisor for the fundraising round. |
