Patanjali, DS Group buy Magma Insurance at Rs 4,500 crore valuation
Magma General Insurance’s board has approved an agreement for Patanjali Ayurved and foundations to acquire a controlling stake, valued at Rs 4,500 crore, pending regulatory approvals. Patanjali, led by Baba Ramdev, and DS Group aim to inject capital to expand operations. Adar Poonawalla expressed confidence in the continued growth under the new ownership.
Magma General Insurance’s board has approved an agreement for Patanjali Ayurved and foundations to acquire a controlling stake, valued at Rs 4,500 crore, pending regulatory approvals. Patanjali, led by Baba Ramdev, and DS Group aim to inject capital to expand operations. Adar Poonawalla expressed confidence in the continued growth under the new ownership. What's Your Reaction?
