SBEL is the second largest industrial explosives player in India. The Company has over 25 years of operating history and commands around 10% market share in India. SBEL caters to both the mining and infrastructure sectors and is making inroads into the defence sector as well. Besides India, the Company has customers in more than 20 other countries to which it provides its entire suite of products and services. The funds will be used for expanding the manufacturing capacity of the Company across India as well as launching new products.
Commenting on the transaction, Sanjay Choudhari, Director, SBEL said
“We are elated to find suitable and like-minded partners in the form of Synergy Capital, India SME Investments and Mr. Mukul Agrawal. The next few years look very promising for our industry, and we will be working together towards our next milestone of listing the Company. I would especially like to thank BDO India’s team for handholding us through this entire journey of fundraising, providing world-class services, and helping us in finding the right partners”.
BDO India acted as the exclusive financial advisor to SBEL and supported the transaction with a complete range of Deal Advisory Services, including Investment Banking, Transaction Structuring and Vendor-Assist. This transaction showcases BDO India's capabilities across the deal spectrum to meet the varied transaction needs of its clients.
Commenting on the transaction, Ashish Bagadia, Partner – Corporate Finance and Investment Banking said
"We are very glad to assist a high-growth client like SBEL. The industrial explosives market is a niche space and was not so closely evaluated by PE investors in the recent past. We take pride in assisting clients like SBEL, in niche segments in articulating their growth strategy to the potential investors and helping them navigate through the nuances of fundraising.”