Noida, Sep 14 (APAC Media): Solar Industries India Ltd on Monday said it has agreed to acquire South African industrial explosives and fertiliser company Omnia Holdings Ltd for about ₹12,951 crore ($1.355 billion) in an all-cash deal, in a move aimed at strengthening its presence in the global mining and agriculture markets.
Under the agreements, Solar SA Investments Proprietary will acquire all outstanding shares of Omnia at 134.5 rand per share. The offer represents a 14.3% premium over Omnia’s closing price on Friday.
Shares of Omnia jumped as much as 7.6% on Monday and were trading 4.1% higher at 9:28 a.m. in Johannesburg. The company had a market value of around 19.8 billion rand at that time.
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The transaction, valued at approximately 21.8 billion rand ($1.4 billion), is expected to close in early to mid-2027, subject to customary conditions, including regulatory and competition approvals in the relevant jurisdictions.
Following completion of the deal, Omnia will be delisted from the Johannesburg Stock Exchange and A2X Markets securities exchange, according to the company’s filing.
Omnia, which has operations across the mining, agriculture and chemicals sectors, reported revenue of $1.41 billion (₹13,307 crore) in the last financial year. Its businesses include mining explosives, chemicals, crop nutrition and specialised agricultural solutions.
Manish Nuwal, Managing Director and Chief Executive Officer of Solar Group, said the company had “long admired” Omnia for its mining and agriculture businesses, technology and strong customer relationships.
“Omnia is a business we have long admired for the strength of its mining and agriculture businesses, differentiated technologies and brands, and deep customer relationships built over many years,” Nuwal said.
He said the proposed acquisition was an important milestone in Solar’s ambition to become a global leader in explosives and blasting solutions. The deal would also help the company enter the integrated crop nutrition and biological solutions market.
Nuwal highlighted Omnia’s BME business, saying it would bring “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.”
“The acquisition would create the most integrated global blasting platform,” it said.
“Together, the combined group will be positioned to offer the most integrated blasting solutions, creating meaningful competitive advantages through enhanced supply security, greater economies of scale, technology differentiation, access to key mining markets across Africa and other international geographies, and deeper customer engagement,” Nuwal added.
Solar Industries, headquartered in Nagpur, manufactures industrial explosives and initiating systems for mining, infrastructure, construction, defence and space industries.
The company has expanded steadily across Africa.
Solar entered the Southern African Development Community region in 2010 with a manufacturing facility in Zambia. It began operations in South Africa in 2015 through a distribution platform and commissioned a manufacturing facility in Middelburg in 2017.
In 2024, Solar further strengthened its South African presence by acquiring ProBlast, a company involved in open-cast mining, drilling, blasting and explosives services.
–ENDS–
Disclaimer: This article is for informational purposes only and is based on publicly available information. APAC Media is not responsible for investment decisions or losses. Please conduct your own research or consult a financial adviser before investing.
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