Solar Industries shares crash 9% after acquisition of South Africa’s Omnia Holdings for Rs 12,951 crore
Solar Industries shares fell sharply on Tuesday after the company announced the Rs 12,951 crore acquisition of South Africa’s Omnia Holdings in an all-cash deal. The transaction, subject to regulatory and shareholder approvals, is expected to strengthen Solar’s global explosives and blasting business while expanding its presence across Africa and other international markets.
Solar Industries' shares dropped nearly 9% on Tuesday, reaching a low of Rs 20,180 on NSE following the company's announcement of acquiring South Africa's Omnia Holdings. The all-cash transaction, valued at approximately US$1.355 billion (Rs 12,951 crore), aims to bolster commercial growth and operational efficiencies. The acquisition is projected to be finalized between early and mid-2027, pending regulatory approvals and shareholder approval.
Upon completion, Omnia will be delisted from Johannesburg Stock Exchange and A2X Markets. This move marks a significant step towards Solar Group's global expansion and integration in the explosives and blasting solutions sector.
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