Synergy Capital, India SME Investments and Mukul Mahavir Agrawal completed the $39m investment in SBL Energy.

Synergy Capital, a private equity fund and strategic advisory firm, India SME Investments, an India-centric investment firm, and Mukul Mahavir Agrawal completed the $39m investment in SBL Energy, a manufacturer of a wide range of industrial and mining explosives, including detonators and detonating fuse.