SBL Energy raises Rs 325 crore amid expansion plans

SBL to deploy funds for manufacturing capacity expansion and product development.

Explosives maker SBL Energy Ltd said on February 26 that the company has raised Rs 325 crore in growth capital to boost its expansion plans.  The funds were raised from investors including Synergy Capital, India SME Investments, and capital market investor Mukul Mahavir Agrawal, the company said.

SBL will deploy the funds to expand its manufacturing capacity in India as well as launch new products, the company said.

"The next few years look very promising for our industry and we will be striving to capture the emerging opportunities. In the next phase of our progress, we will be working together towards our next milestone of listing the Company, ” said SBL director Sanjay Choudhari.

SBL, along with its group companies, operates industrial explosives and initiating systems manufacturing plants in Raipur, Nagpur, and Rourkela. It manufactures bulk, slurry, and emulsion explosives.