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In February 2024, SBL Energy raised Rs 325 crore from Synergy Capital, India SME Investments, and Mukul Agrawal to enhance manufacturing capacity and launch new products. CEO Alok Choudhari emphasized the company's goal to become a global leader in industrial explosives and defense, supported by a diverse revenue portfolio from international and Indian clients. SBL Energy's strategy includes technology adoption, market expansion into sectors like cement and hydropower, and global partnerships to increase exports to Europe, the US, and Australia.