IRDAI OKs Patanjali-DS Magma acquisition
Synopsis Patanjali Ayurved and Dharampal Satyapal Group secured IRDAI approval for Magma General Insurance. This acquisition marks Patanjali's significant entry into the financial services sector
Synopsis Patanjali Ayurved and Dharampal Satyapal Group secured IRDAI approval for Magma General Insurance. This acquisition marks Patanjali's significant entry into the financial services sector.
Patanjali will acquire a majority stake, while DS Group will become a co-investor. Magma General Insurance has shown strong premium growth and achieved profitability. Patanjali
plans to expand the insurer's product offerings and reach across India.
The BriefWire