Solar Industries acquires South Africa’s Omnia Holdings for $1.36 billion
The acquisition triggers a sharp market reaction, with Solar Industries shares closing at ₹19,250 on September 15 on the NSE, down 13.64% from the previous close of ₹22,290
On September 14, 2026, Solar Industries India Limited announced its wholly owned subsidiary, Solar SA Investments Proprietary Limited, had reached a definitive agreement to acquire 100% of Omnia Holdings Limited. This South African chemicals conglomerate, headquartered in Johannesburg, will be acquired through an all-cash deal valued at around US$1.355 billion.
The offer price per share was set at ZAR 134.5. The acquisition sent Solar Industries' shares plunging on September 15, closing at ₹19,250 on the NSE, a 13.64% decrease from the previous close of ₹22,290. Omnia, established in 1953, operates in 23 countries and serves over 40 countries through more than 70 distribution centers. The company reported revenue of US$1.41 billion for the financial year ending March 31, 2026.
Following the completion of the deal, Omnia will be removed from the Johannesburg Stock Exchange and A2X Markets. Solar Industries sees this acquisition as a way to create a global platform for commercial explosives and blasting solutions, enhancing its geographical reach and technological capabilities. The transaction awaits regulatory, statutory, and competition approvals and is expected to finalize between early and mid-2027.
Omnia's shareholder approval is also required. Manish Nuwal, the Managing Director and CEO of Solar Industries, hailed the acquisition as a significant milestone in the company's quest to become a global leader in explosives and blasting solutions.
Written by urgent.news from Hindu BusinessLine's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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