Solar Industries India announced that two of its subsidiaries have entered into a direct agreement with Omnia Holding to acquire 100% stake in the South African chemical company for $1.35 billion or Ra 12,951 crore. The deal is expected to be completed by early to mid 2027, subject to customary approvals.
Solar Industries-Omnia Holdings: Acquisition deal details
Solar SA Investments Proprietary (the acquirer) and Solar Overseas Mauritius, both of which are wholly step-down subsidiaries of Solar Industries, have entered into a cash consideration agreement with Omnia Holdings to acquire 100% of the ordinary shares of Omnia.
Through the transaction, Solar Industries aims to enhance the Solar Group’s international footprint by creating a platform for commercial explosives and blasting solutions. The acquisition is expected to enhance the group’s technological capabilities and diversify its business portfolio.
The benefits of this expanded footprint, strengthened industrial base and broader customer access are expected to become increasingly visible from FY2028, increasing Solar Group’s revenue attributable to Africa’s mining market by multi-fold growth,” Solar Industries said in its exchange filing.
Following the completing of this transaction, Omnia will be delisted from the Johannesburg Stock Exchange and A2X Markets securities exchange, the company said in its statement. For FY26, the South African based chemical firm reported a revenue of $1.41 billion.
Currently, Omnia has a physical presence in 23 countries, and its mining segment BME, is a major player in the sustainable mining solutions business.
Solar Industries expanding footprint in Africa
The Nagpur-based industrial explosives manufacturer said it aims to scale up its operations across Africa, especially across markets with key access to mining jurisdictions. In 2010, Solar Industries started its operations with the South African Development Community, establishing its first facility in Zambia.
Over the past years it has expanded its operations in the country, through distribution pltaforms, and subsequently it went on to commission a facility in in Middelburg in 2017. “These investments have enabled Solar to establish a strong operational foundation and become a trusted partner to the region’s mining industry,” the company said.
Solar Industries-Omnia Holdings: Management commentary
“In particular, Omnia’s BME brand brings a strong international mining platform, high-quality manufacturing assets, technological leadership in electronic initiation systems, integrated ammonium nitrate manufacturing capability and an established presence across Africa and other international markets,” said Manish Nuwal, Managing Director and Chief Executive Officer of Solar Group.
He added that Solar SA’s acquisition of Omnia will create the ‘most integrated global blasting platform’.
Solar Industries share price
The company’s stock ended Friday’s trade on the exchanges flat at Rs 22,290. Over the past one month, its share price has expanded nearly 12%, while over the past six months, its stock has delivered a return of more than 56%.