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Solar Industries said the acquisition will support its ambition of becoming a leading global explosives and mining solutions provider, while enhancing its scale, market access and competitive positioning across Africa and other international markets. 3 Min Read Shares of Solar Industries India Ltd. will be in focus on Tuesday, September 15, after the company's unit agreed to acquire South Africa-based Omnia Holdings for ₹12,951 crore . The acquisition is subject to customary closing conditions, including regulatory approvals and approval from Omnia's shareholders. The transaction involves the acquisition of 100% of Omnia's issued ordinary shares, excluding treasury shares, for a cash consideration of ZAR 134.5 per share, amounting to about $1.355 billion or ₹12,951 crore.
The acquisition is expected to be completed in early to mid-2027, subject to customary conditions, including competition approvals in relevant jurisdictions. Following completion, Omnia will be delisted from the Johannesburg Stock Exchange and A2X Markets. Omnia provides products, solutions and specialised services to the mining and agriculture sectors.
It is listed on the Johannesburg Stock Exchange and serves customers across 40 countries through 70 distribution centers. For the year ended March 31, Omnia reported revenue of ₹13,307 crore ($1.41 billion). Omnia has a physical presence in more than 23 countries and employs over 3,500 people.
Solar Industries said the acquisition will support its ambition of becoming a leading global explosives and mining solutions provider, while enhancing its scale, market access and competitive positioning across Africa and other international markets. Goldman Sachs sees strategic merit in deal Goldman Sachs has a "Buy" rating on Solar Industries with a target price of ₹26,550, implying an upside of around 19% from Friday's closing price of ₹22,290. The brokerage said the proposed acquisition would give Solar access to one of the largest players in South Africa and create a global platform for commercial explosives and blasting solutions.
Goldman sees strategic merit in the transaction, citing synergies between Omnia's integrated mining business and Solar's existing South African operations. It also expects the deal to help Solar expand its market share in Australia and Indonesia while entering new markets such as Canada and Brazil through Omnia's network. The brokerage added that Omnia's product range and commodity diversification are likely to provide synergistic benefits to Solar Industries.
Solar Industries stock: Analyst view According to Bloomberg data, Solar Industries has a Buy consensus, with 15 of the 18 analysts tracking the stock recommending 'Buy", two have a "Hold" rating and one has a "Sell" call. The 12-month consensus target price is around ₹22,401, implying about 0.5% upside from the last traded price of ₹22,290. Shares of Solar Industries ended 0.4% lower at ₹22,290 on Friday, ahead of the acquisition announcement.
The stock has risen more than 83% so far this year and about 54% over the last 12 months. Home Market News Solar Industries share price can rise another 19%, Goldman Sachs says after ₹12,951 crore Omnia deal
Source: CNBC TV18
