Solar Industries arm to acquire South Africa’s Omnia Holdings for Rs 12,951 crore
Mumbai (Maharashtra) [India], September 14 (ANI): Solar SA Investments Proprietary Limited, a wholly owned step-down subsidiary of Solar Industries India Limited (Solar Group), will acquire all outstanding shares of South Africa-based Omnia Holdings Limited (Omnia) in an all-cash transaction for approximately USD 1.355 billion (Rs 12,951 crore), the companies said in an official statement.
The transaction is subject to customary closing conditions, including required regulatory approvals and approval from Omnia shareholders, the statement said.
Headquartered in South Africa and listed on the Johannesburg Stock Exchange, Omnia has a 73-year heritage and operates across the mining and agriculture sectors.
According to the statement, Omnia operates in 23 countries and serves customers in more than 40 countries through over 70 distribution centres across Southern and Western Africa and other international markets.
The company also informed that for the financial year ended March 31, 2026, Omnia reported revenue of approximately USD 1.41 billion (Rs 13,307 crore) and remained net cash positive, according to the statement.
The proposed acquisition is aimed at strengthening Solar Group's position in the global explosives and blasting solutions market, the company said.
Solar entered the Southern African Development Community (SADC) region in 2010 with a manufacturing facility in Zambia and subsequently commenced operations in South Africa in 2015 through a distribution platform. It commissioned its manufacturing facility in Middelburg in 2017.
In 2024, Solar further strengthened its South African presence through the acquisition of ProBlast, a local company specialising in open-cast mining, drilling, blasting and explosives services, the statement said.
Omnia's Mining business, operating under the BME brand, provides bulk explosives, electronic detonation systems, digital blasting solutions and mining chemicals, with a presence across Africa and other international markets.
The company's Agriculture segment provides crop nutrition products and services through its Nutriology model and Agribio biological solutions. It also operates nitric acid and ammonium nitrate production facilities, which Omnia said are the largest, most reliable and sustainable in the region.
The statement said Omnia's new 5,000-tonne ammonium nitrate storage tank has doubled its storage capacity.
Solar said these capabilities are expected to strengthen vertical integration, improve security of supply and raw material availability, increase operational flexibility and support long-term cost competitiveness across the explosives value chain.
Manish Nuwal, Managing Director and Chief Executive Officer of Solar Group, said, "The proposed transaction marks an important milestone in our ambition to become a global leader in explosives and blasting solutions, while also providing us with a meaningful entry into integrated crop nutrition and biological solutions."
He also said the transaction would create one of the largest and most integrated explosives and blasting solutions platforms globally.
He added, “We are excited to welcome Omnia's talented teams into the Solar Group and to write the next chapter of growth together while creating significant value for our shareholders, customers, employees and all stakeholders."
The current share price of Solar Industries India on the National Stock Exchange is Rs 22,350/share. (ANI)
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