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SBL Energy Limited, an Indian mining and industrial explosives company, secured ₹325 crore in growth financing from Synergy financing, India SME Investments, and investors. The company intends to use the capital to expand its manufacturing capabilities in India and launch new items to the market.
SBL Energy, which has been in business for nearly three decades, is India's second-largest industrial explosives company, accounting for roughly 10% of the market. The company exports its extensive variety of goods and services to more than 20 nations. It also caters to the mining, infrastructure, and defence sectors.
Sanjay Choudhari, Director of SBL Energy Limited, expressed enthusiasm about the new partnerships, stating, "We are excited to partner with Synergy Capital, India SME Investments, and Mukul Agrawal." He highlighted the investors' role in supporting SBL Energy's ambition to become a premier global manufacturer and supplier of explosives and accessories.
Choudhari emphasised that the investment not only strengthens the company's commitment to enhancing product and service delivery but also affirms its leadership position and value proposition to customers and stakeholders. He noted, "The next few years look very promising for our industry, and we will strive to capture the emerging opportunities."
For the fundraising round, SBL Energy has appointed BDO India as its exclusive financial advisor and Cyril Amarchand Mangaldas as its legal advisor, ensuring expert guidance through the process.
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