Solar Industries shares fell over 10% on Tuesday, hitting a day low of Rs 20,125, after it announced a Rs 12,951 crore South Africa acquisition.

So what triggered the fall. Solar Industries’ step-down subsidiary, Solar SA Investments Proprietary Limited, has signed a definitive agreement to buy 100% of Omnia Holdings, a company listed on the Johannesburg Stock Exchange.

The deal is an all-cash transaction. Solar is paying ZAR 134.5 for each Omnia share, working out to roughly Rs 12,951 crore, or about $1.355 billion.

That price is about 14.3% higher than where Omnia’s stock closed on 11 September. Omnia is not a small player either.

It supplies products and services to the mining and agriculture sectors, operates in more than 23 countries, and employs over 3,500 people.

For the year ended 31 March 2026, the company posted revenue of about Rs 13,307 crore.

Once the deal closes, expected sometime in early to mid 2027, Omnia will be delisted from both the Johannesburg Stock Exchange and A2X Markets.

The transaction still needs sign-off from regulators and from Omnia’s own shareholders.

This isn’t the only recent development for Solar Industries. Just last month, on 13 August, the company reported its Q1 FY27 numbers.

Consolidated revenue jumped 70.3% year on year to Rs 3,668 crore, while net profit rose 92.6% to Rs 653 crore.

Its EBITDA margin also improved, moving up to 27.7% from 24.8% a year earlier.

As of that quarter, the company’s domestic order book stood at over Rs 18,000 crore.

As of 10:59 am on Tuesday, Solar Industries shares were trading at Rs 20,165, down 9.53% from the previous close.

The stock remains well above its 52-week low of Rs 11,646, and had touched a fresh 52-week high of Rs 22,700 in the same session before the fall.

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