India's Solar Group to buy South Africa's Omnia for $1.3B, take it private
What's the deal? India's Solar GroupDealroom has a profile for this one. Try Dealroom → has agreed to acquire all issued ordinary shares of Omnia HoldingsDealroom has a profile for this one. Try Dealroom →, a South African chemicals and explosives group, in a cash deal worth 21,828,973,400 ZAR (≈$1.3 billion). Shareholders will receive R134.50 per share, after which Omnia will be delisted from the JSEDealroom has a profile for this one. Try Dealroom → and A2X MarketsDealroom has a profile for this one. Try Dealroom →.
How it works: The offer runs through a scheme of arrangement made by Solar SA Investments, a South African entity wholly owned by India's Solar Industries India LimitedDealroom has a profile for this one. Try Dealroom →. The two sides signed an implementation agreement on September 14, 2026.
The premium: The R134.50 offer is 30.98% above Omnia's closing price of R102.69 on September 10, the last trading day before the deal was flagged.
Who's buying? Solar Industries India is listed on India's National Stock Exchange and BSE, with a market capitalisation of about $21 billion. Founded in 1995 as a single-site manufacturer, it now runs plants across 11 countries and sells industrial explosives in more than 90 nations through two divisions: industrial explosives and defence and aerospace.
The signal: The acquisition deepens Solar's push to become a global leader in industrial explosives, a market tied closely to mining, infrastructure, and construction. Buying an established South African player gives Solar scale on the continent while taking Omnia off public markets entirely.
Read more: sharenet.co.za
Image credit: Generated with Gemini
