SBL Energy, a mining and industrial explosives manufacturer, has raised ₹325 crore growth capital from Synergy Capital, India SME Investments and Mukul Mahavir Agrawal, among other investors. It aims to expand its manufacturing capacity in India and launch new products.
Sanjay Choudhari, Director, SBL Energy, said the fund infusion would enable the company to enhance product and service delivery capabilities.
The growth capital also underlines the value the company brings to customers and stakeholders, he said. The next few years look promising for the industry, and the company will capture emerging opportunities, he said.
SBL Energy, the second largest industrial explosives maker in India, is nearly three decades old and commands about 10 per cent market share. SBL caters to both the mining and infrastructure sectors, besides making inroads into the defence sector as well. It also exports to over 20 countries.