City-based explosives and chemical maker Solar Industries on Monday announced a landmark Rs 12,951-crore acquisition of South Africa’s Omnia Holdings Limited, significantly strengthening its commercial operations across international markets. Founded by Padma Shri Satyanarayan Nuwal, 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 USD 1.355 billion (Rs 12,951 crore)”. Omnia, which is listed on the Johannesburg Stock Exchange, reported revenue of USD 1.41 billion (Rs 13,307 crore) last fiscal year. 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. Manish Nuwal, Managing Director and Chief Executive Officer of Solar Group, said, “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 the company’s ambition to become a global leader in explosives and blasting solutions, he said, adding that the acquisition would help the company’s entry into integrated crop nutrition and biological solutions.

 

“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 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.