Solar Industries India Limited disclosed a proposed acquisition through its wholly owned step-down subsidiary, Solar SA Investments Proprietary Limited. The subsidiary has signed definitive agreements to acquire all outstanding shares of South Africa-based Omnia Holdings Limited (JSE: OMN) in an all-cash transaction.

The acquisition consideration is approximately US$1.355 billion (₹12,951 crores). The transaction is subject to customary closing conditions, including receipt of required regulatory approvals and approval by Omnia shareholders.

Omnia Holdings Limited is a diversified international group with 73-year heritage, headquartered in South Africa and listed on the Johannesburg Stock Exchange. The company operates in 23 countries and serves customers in more than 40 countries through over 70 distribution centers across Southern and Western Africa and international markets including Australia, United States, Canada, Brazil, and Indonesia.

For the financial year ended March 31, 2026, Omnia reported revenue of approximately US$1.41 billion (₹13,307 crores) and remained net cash positive.

Strategic Rationale

The acquisition represents Solar Group's strategic ambition to become a leading global explosives and mining solutions provider. Omnia's operations include:

  • Mining business under the BME brand with expertise in open-cast mining, bulk explosives, electronic detonation systems, digital blasting solutions, and mining chemicals
  • Agriculture segment providing sustainable agriculture solutions through proprietary Nutriology® model and Agribio biological solutions
  • Integrated manufacturing infrastructure including nitric acid and ammonium nitrate production facilities (the largest in the region)
  • Recently expanded ammonium nitrate storage infrastructure through a new 5,000-tonne storage tank, doubling storage capacity

The combination is expected to create one of the largest and most integrated explosives and blasting solutions platforms globally, with benefits expected to become visible from FY2028. The acquisition is expected to increase Solar Group's revenue attributable to Africa's mining market by multi-fold growth.

Management Commentary

Manish Nuwal, Managing Director and Chief Executive Officer of Solar Group, stated that the acquisition provides meaningful entry into integrated crop nutrition and biological solutions, and combines Omnia's vertically integrated manufacturing capabilities with Solar Group's leadership in explosives and advanced blasting technologies.

Additional Context

Solar Group operates manufacturing facilities across 11 countries with over 40 integrated manufacturing facilities worldwide and workforce of over 16,500 employees. The group serves customers in more than 90 countries.

The disclosure was made in accordance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.