Patanjali and DS Group to Acquire Magma General Insurance for Rs 4,500 Crore

Patanjali Ayurved and DS Group are set to acquire Magma General Insurance for Rs 4,500 crore. The sale by Sanoti Properties awaits regulatory approval. Magma Insurance, held by Adar Poonawalla and Rising Sun Holdings, offers over 70 products covering major general insurance risks.

In a high-profile acquisition, Patanjali Ayurved and the Dharampal Satyapal Group (DS Group) announced their joint venture to purchase Magma General Insurance. Valued at Rs 4,500 crore, the deal awaits necessary regulatory approvals.

Magma General Insurance, previously part of holdings by Adar Poonawalla and Rising Sun Holdings, offers an extensive portfolio of over 70 general insurance products.

The strategic acquisition follows a share purchase agreement with Sanoti Properties, including entities such as Celica Developers and Jaguar Advisory Services, as part of the comprehensive sale of its insurance subsidiary.

(With inputs from agencies.)