Solar Industries India's wholly owned subsidiary has agreed to make investment in Rajasthan Explosives and Chemicals (RECL) by acquiring the entire business and undertaking of RECL through Business Acquisition agreement dated April 10, 2023. The company’s investment in RECL is in line with the long-term business plan of the Company to expand its business operations. Acquisition of the company has been done at a mutually agreed cost. The said enterprise valuation has not been disclosed herein due to reasons of confidentiality.
Solar Industries is one of the largest manufacturers and suppliers of Explosives and Explosive Accessories in India covering the entire range of products such as Bulk and Cartridge Explosives, Detonators, Detonating Cords, Pentaerythritol Tetranitrate (PETN), and Cast Boosters.
