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Raipur-based SBL Energy raises Rs 325 crore in growth capital led by marquee investors

ISN Team
New Update
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Raipur-based SBL Energy, a mining and industrial explosives manufacturer, has bagged Rs 325 crore in growth capital from a consortium of investors, including Synergy Capital, India SME Investments, and equity market player Mukul Agrawal. 

The company aims to leverage this capital to broaden its manufacturing capabilities and introduce new products to the market.

What does SBL Energy do?

SBL, along with its group companies, operates industrial explosives and initiating systems manufacturing plants in Raipur, Nagpur and Rourkela. The company manufactures bulk, slurry and emulsion explosives. It also manufactures detonating fuse, NONEL, cast boosters as well as electronic detonators.


The company has been operational for nearly three decades of operational and stands as the second-largest player in India's industrial explosives sector with a 10% market share. 

It primarily caters to critical sectors such as mining, infrastructure, and, more recently, the defence sector. 

Exporting products and services

Besides operating in the domestic market, SBL Energy is also exporting its wide range of products and services to over 20 countries.

Sanjay Choudhari, Director, SBL Energy Limited, said, “We are excited to partner with Synergy Capital, India SME Investments and Mr. Mukul Agrawal. Our investors are forward-thinkers, capable of aiding us in emerging as a leading manufacturer and supplier of explosives and accessories globally. The infusion of funds reinforces our commitment to further enhancing our product and service delivery capabilities. The growth capital also underlines our leadership position and the value we bring to our customers and stakeholders."

Focused on the expansion of manufacturing capacity

According to the company's statement, the raised capital raised will be utilized towards the expansion of manufacturing capacity within India and support the launch of new products. It aims to enhance its production capabilities to meet the growing demand in its served markets. 

Additionally, SBL Energy is investing in innovation and expanding its product lineup to capture emerging opportunities in the sector.

Sudhir Maheshwari, Founder & Managing Partner, Synergy Capital, said, “We are delighted to partner with SBL and help the Company in implementing its national and international expansion strategies. SBL has proven expertise and capabilities in delivering excellence industrial and mining explosives manufacturing. We look forward to supporting the Company’s journey as it is working towards scaling up its business both in domestic and international markets”.

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