Shares of Solar Industries were trading 8% lower on September 15 a day after the company said it will acquire South Africa's Omnia Holdings Ltd for nearly Rs 13,000 crore as it seeks to become a global leader in explosives and blasting solutions.

Nagpur-based Solar Group manufactures industrial explosives and initiating systems. It caters to customers across mining, infrastructure, construction, defence and space sectors. The group has a presence in the South African market.

Omnia Holdings is a diversified global group with complementary chemical and specialised businesses serving customers across the mining, agriculture and chemicals sectors.

In a regulatory filing, Solar Industries India said its arm, Solar SA Investments Proprietary Ltd, and Omnia Holdings have signed definitive agreements for this deal.

As per the agreements, "Solar SA Investments Proprietary will acquire all outstanding shares of Omnia in an all-cash transaction for a consideration of approximately $1.355 billion (Rs 12,951 crore)".

Omnia, which is listed on the Johannesburg Stock Exchange, reported revenue of $1.41 billion (Rs 13,307 crores) last fiscal year.

At 10:56 am on September 15, Solar Industries shares were trading 9% lower at Rs 20,275 apiece even as Goldman Sachs gave a 'Buy' rating and target price of Rs 26,550.

"Proposed acquisition of Omnia Holdings would allow co to acquire one of largest players in South Africa and create a global platform for Commercial Explosives and Blasting Solutions. Transaction has strategic merit as:

1) Omnia’s fully integrated Mining business is synergistic with Solar Industries’ existing South Africa operations;

2) it provides the company an opportunity to enhance its market share in Australia and Indonesia while entering new geographies such as Canada and Brazil through Omnia’s network;

3) Omnia’s product range and commodity diversification are likely to provide synergistic benefits to SOIL," said the global brokerage.

The acquisition is expected to be completed in early to mid 2027, subject to customary conditions, including competition approvals under relevant jurisdictions.

Upon successful completion of the transaction, Omnia will be delisted from the Johannesburg Stock Exchange and A2X Markets securities exchange, the filing said.


Over the past three decades, Solar Group said it has built a strong position in the global explosives industry. It has also steadily expanded its footprint across Africa.

Solar first entered the Southern African Development Community (SADC) region in 2010 with the establishment of a manufacturing facility in Zambia.

It subsequently commenced operations in South Africa in 2015 through a distribution platform, followed by the commissioning of its manufacturing facility in Middelburg in 2017.

In 2024, Solar strengthened its South African presence through the acquisition of ProBlast, a local South African company specialising in open-cast mining, drilling, blasting and explosives services.