Patanjali and DS Group's Strategic Acquisition of Magma General Insurance

Patanjali Ayurved and DS Group, led by Sanoti Properties LLP, are acquiring Magma General Insurance for Rs 4,500 crore. The deal involves regulatory approvals and encompasses the whole subsidiary, previously overseen by Adar Poonawalla and Rising Sun Holdings, alongside Celica Developers and Jaguar Advisory Services.

Patanjali Ayurved, spearheaded by Yoga Guru Ramdev, and Rajnigandha manufacturer Dharampal Satyapal Group (DS Group) have announced a major acquisition deal. The firms will purchase Magma General Insurance, previously co-held by Adar Poonawalla and Rising Sun Holdings, at an impressive valuation of Rs 4,500 crore.

The acquisition, confirmed through a statement on Thursday, marks a significant expansion for both Patanjali and DS Group within the insurance sector. This strategic purchase involves not only the insurance entity but also Celica Developers and Jaguar Advisory Services, according to the share purchase agreement signed with Sanoti Properties LLP.

Magma General Insurance, renowned for offering over 70 insurance products, provides comprehensive coverages safeguarding against major general insurance-related risks. The transaction, however, remains subject to regulatory approvals before it can be finalized.

(With inputs from agencies.)