The Oman India Joint Investment Fund successfully exited its 4.28% stake in Solar Industries India Ltd, realizing a significant return of INR 240 crore ($37 million) after investing INR 72 crore in 2012.
Target Information
The Oman India Joint Investment Fund has successfully exited its investment in Solar Industries India Ltd, selling its entire 4.28% stake for approximately INR 240 crore (USD 37 million). This marks the fund's first exit since it began operations in 2012, with Solar Industries being its second investment in the Indian market. The shares were sold at a price of INR 3,100.42 each, as reported through bulk deals data on the Bombay Stock Exchange.
Established in 1995, Solar Industries India Ltd, previously known as Solar Explosives Ltd, is a leading manufacturer of explosives and detonators, as well as specialty chemicals. The company operates 16 manufacturing facilities in India and has two additional plants located in Africa. Furthermore, Solar Industries is expanding its production capacity to serve the European market more effectively.
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Industry Overview in India
The explosives and chemicals industry in India has witnessed significant growth over the past decade, driven by increasing demand from the mining, construction, and defense sectors. With
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Oman India Joint Investment Fund
invested in
Solar Industries India Ltd
in 2012
in a Other Private Equity deal
Disclosed details
Transaction Size: $37M
Equity Value: $37M