India’s Solar Industries is making a major push into Africa’s mining sector with a $1.36 billion deal to acquire South Africa’s Omnia Holdings, expanding its footprint across the continent’s fast-growing mining and critical minerals industry.
India’s Solar Industries expands its African footprint with $1.36 billion takeover of South Africa’s Omnia
- India’s Solar Industries is making a bold $1.36 billion move into Africa by acquiring South Africa’s Omnia Holdings in a major all-cash deal.
- Through its subsidiary Solar SA Investments, Solar will take over all shares of Omnia, pending regulatory and shareholder approvals, to build its African mining presence.
- This acquisition comes as Zambia and other African nations ramp up production and investment in critical minerals, fuelled by rising global demand.
- Omnia, with operations in 23 countries and revenue of $1.41 billion, will give Solar an extensive footprint in mining and agriculture across over 40 markets.
Solar SA Investments, an indirect wholly owned subsidiary of Solar Industries, will acquire all outstanding shares of Johannesburg-listed Omnia in an all-cash transaction, subject to regulatory and shareholder approvals
The acquisition comes as African countries seek to increase production of critical minerals and attract more investment into mining and processing.
Nagpur-based Solar Industries manufactures industrial explosives and initiating systems used across mining, infrastructure, construction, defence and space. The company operates more than 40 manufacturing facilities globally and already has a presence in South Africa.
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Omnia will significantly expand that footprint. The Johannesburg-listed company provides products and services to the mining and agriculture industries, operating in 23 countries and serving customers in more than 40 markets.
It reported revenue of about $1.41 billion for the financial year ended March 31.
Solar expects the acquisition to significantly increase its mining revenue in Africa from fiscal 2028 as it combines its explosives business with Omnia’s established operations across the continent.
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The transaction is expected to close in early to mid-2027, subject to customary conditions, including competition approvals in relevant jurisdictions.
Once completed, Omnia will be delisted from both the Johannesburg Stock Exchange and A2X Markets.
The deal gives Solar a larger platform in Africa at a time when mining companies are investing to expand production of copper and other minerals critical to the global energy transition.
