Choudhari to work on listing the three-decade old company
Raipur’s SBL Energy Limited says the Rs.325 crore raised from a clutch of marquee investors is for expanding manufacturing capacity in India and the launch of new products which will also be exported to more than 20 countries.
One of the top-rated mining and industrial explosives manufacturers in India, the three-decade-old company was supported by investors including Synergy Capital https://www.synergycapital.co.uk/, India SME Investments and ace capital market investor Mukul Mahavir Agrawal.
SBL Energy https://www.sblenergy.com/products commands around 10% market share in India, catering to both the mining and infrastructure sectors while making inroads into the defence sector.
Commenting on the fund raising, SBL Energy Director Sanjay Choudhari said, “We are excited to partner with Synergy Capital, India SME Investments and Mukul Agrawal.
“Our investors https://www.nseindia.com/ 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.
“The next few years look very promising for our industry and we will be striving to capture the emerging opportunities https://www.nseindia.com/ . In the next phase of our progress, we will be working together towards our next milestone of listing https://www.bseindia.com/ the company.”
Synergy Capital Founder & Managing Partner Sudhir Maheshwari added, “We are delighted to partner with SBL and help 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.”
India SME Investments Managing Partner Mitin Jain elaborated, “Investing in SBL Energy reiterates our belief in the emergence of entrepreneurs https://www.smechamberofindia.com/ from tier 2 and 3 centres who are playing a crucial role in India’s pursuit to achieve US$5 trillion GDP.
“We are delighted to partner with SBL and look forward to supporting the founders in unlocking the value created by them over the last three decades.”
SBL, along with its group companies, operates industrial explosives and initiating systems manufacturing plants in Raipur, Nagpur and Rourkela. It is manufacturing bulk, slurry and emulsion explosives as well as detonating fuse, NONEL, cast boosters and electronic detonators. Fiinews.com
