What was filed
Solar Industries India Limited told the NSE and BSE that its wholly owned subsidiary, Solar Explochem Limited, signed a Share Purchase Agreement on October 15, 2026 to acquire the entire issued and paid-up equity share capital of Sivasakthi Industrial Explosives Private Limited. The filing describes the purchase as a cash consideration, with completion expected within 12 months, subject to terms to be mutually agreed. No governmental or regulatory approvals are stated as applicable.
The target
Sivasakthi is a private company incorporated in 2008 in India, engaged in the manufacture, production, processing and trading of explosives for industrial mining and other purposes — the same line of business as the acquirer. The stated objective of the deal is business expansion within the explosives industry. The filing notes the transaction is not a related party transaction and that the promoter group has no interest in the entity being acquired.
A note on the target's revenue
The disclosed turnover history is small and declining: per the filing, Sivasakthi recorded nil turnover in FY2025-26, following figures in the low tens of lakhs in the two prior years. The consideration therefore sits well above the target's recent reported revenue — a point a holder may wish to read alongside the stated rationale of business expansion rather than current earnings.