Solar Industries India’s wholly owned subsidiary -- Solar Explochem has entered into a Share Purchase Agreement with Sivasakthi Industrial Explosives (Sivasakthi) for proposed acquisition of 100% of the issued and paid-up equity share capital of Sivasakthi. Solar Explochem will acquire 100% stake in Sivasakthi for a consideration of Rs 115.02 crore. The transaction is expected to be completed within a period of 12 months. The object of the acquisition is Business Expansion.
Sivasakthi is engaged in the manufacturing, production, processing, retailing, wholesaling, supply, distribution, and trading of all types of explosives for industrial mining and other purposes.
Solar Industries India is a Dynamic & Energetic company that continues to grow sustainably over the years.
