Solar Industries shares crash 9% after acquisition of South Africa’s Omnia Holdings for Rs 12,951 crore
According to a filing with the exchange, the company said that Solar SA Investments, a wholly owned step-down subsidiary of Solar Industries, will acquire all outstanding shares of Omnia in an all-cash transaction for a consideration of approximately US$1.355 billion (Rs 12,951 crore), subject to customary closing conditions, including receipt of required regulatory approvals and approval by Omnia shareholders.
Also Read | Solar Industries to acquire South Africa’s Omnia for Rs 12,951 crore in biggest global expansion push
The company also said that the proposed acquisition is expected to drive commercial growth and operational efficiencies through technology innovation, broader customer coverage, enhanced supply chain resilience, greater product and service integration and accelerated development of advanced blasting solutions.
The acquisition is expected to be completed in early to mid 2027, subject to customary conditions, including competition approvals under relevant jurisdiction.
Upon successful completion of the transaction, Omnia will be delisted from the Johannesburg Stock Exchange and A2X Markets securities exchange.
The combination will serve as a significant catalyst for Solar Group’s next phase of growth. The transaction in cash consideration would create one of the largest and most integrated explosives and blasting solutions platforms globally, with expanded manufacturing capabilities, enhanced market reach and access to strategically important mining jurisdictions.”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. 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,” said Manish Nuwal, Managing Director and Chief Executive Officer of Solar Group.
Nuwal also said that 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.
He further said that the acquisition by Solar SA of Omnia will create the most integrated global blasting platform that combines Omnia’s vertically integrated manufacturing capabilities, ammonium nitrate production, surface bulk explosives and blasting services with Solar Group’s leadership in explosives, initiating systems and advanced blasting technologies.
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. Building on this foundation, the proposed acquisition of Omnia by Solar SA represents the next strategic step in Solar Group’s SADC growth journey, significantly expanding its operational, manufacturing and distribution capabilities.
Omnia Holdings
Omnia Holdings is a global, diversified chemicals company supplying chemicals and specialized services and solutions to the mining, agriculture and chemicals application industries. The company is listed on the Johannesburg Stock Exchange (OMN) and A2X Markets securities exchange. For the financial year ended March 31, 2026, Omnia reported a revenue of USD $1.41 billion.
Also Read | Solar Industries buys South Africa’s Omnia in $1.3 billion deal
Solar Industries share price
Solar Industries shares gained 2% over the past month and nearly 67% so far this calendar year. The stock has risen 40.78% over the past year.
Over the past three and five years, Solar Industries shares have gained 338% and 926%, respectively.
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