Solar Industries India Limited announced a $1.355 billion all-cash acquisition of South Africa's Omnia Holdings Limited, establishing a global platform for explosives and blasting solutions.
The deal is subject to regulatory approvals and shareholder consent. Solar SA Investments Proprietary Limited, a Solar subsidiary, has entered into definitive agreements to acquire all outstanding shares of Omnia.
Omnia, operating for 73 years, generated approximately $1.41 billion in revenue for the fiscal year ended March 31, 2026, and maintains a net cash positive position. The company operates two primary divisions: BME, which serves open-cast mining with bulk explosives and electronic detonation systems, and an agriculture segment offering crop nutrition and biological solutions.
The acquisition expands Solar Group's operational footprint across Africa and into international markets. Manish Nuwal, Solar Group's managing director and chief executive officer, said the 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."
Solar Group projects significant growth in African mining revenue beginning in fiscal 2028, driven by technology innovation, expanded customer reach, supply chain strengthening, and accelerated development of blasting solutions.
