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IRDAI Approves Patanjali's ₹4,500 Crore Magma General Insurance Deal; Baba Ramdev's Firm Enters Insurance Sector
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IRDAI approved Patanjali Ayurveda and the DS Group's ₹4,500 crore acquisition of Magma General Insurance.
Patanjali will acquire a 73.6 per cent stake in Magma General Insurance.
The deal marks Baba Ramdev-led Patanjali's entry into India's insurance sector.
The acquisition involves both Patanjali Ayurveda and the DS Group.
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Rajeev Chandrasekhar / Jupiter Capital interests historically