IRDAI clears Patanjali and DS Group’s nearly Rs 4,500 crore Magma General Insurance acquisition
The approval takes Patanjali Ayurved into insurance, with the group aiming to use its extensive retail network to expand insurance access across semi-urban and rural India.
IRDAI approved Patanjali Ayurved and DS Group’s nearly Rs 4,500-crore acquisition of Magma General Insurance, taking Patanjali into insurance. The group plans to leverage its extensive retail network to widen insurance penetration in semi-urban and rural India.
Why this matters
The approval advances Patanjali’s recent insurance-entry signals, including reports that it received IRDAI clearance for the ₹4,500 crore Magma deal and was set to enter general insurance through the acquisition.
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