SBL Energy raises Rs 325 crore equity funding from Synergy Capital, others

Raipur-based SBL Energy -- a mining/industrial explosives manufacturer -- on Monday said it has raised Rs 325 crore of growth capital from Synergy Capital, India SME Investments and a few others.

The company said it will deploy the funds to expand its manufacturing capacity and launch new products.

Another investor is equity market player Mukul Agrawal, the statement said, without giving a break-up of how much each of these investors chipped in with.

SBL Energy -- the second largest industrial explosives manufactures in the country -- has been in operation for almost three decades and commands around 10 per cent market share, it said in a statement.

While SBL caters to the mining and infrastructure sectors, it is also making inroads into the defence sector now, Sanjay Choudhari, a director at SBL, said.