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Patanjali Ayurved gets IRDAI approval to acquire Magma General Insurance for Rs 4,500 cr

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Patanjali Ayurved has received regulatory approval from the Insurance Regulatory and Development Authority of India (IRDAI) to enter the insurance sector. The company plans to acquire Magma General Insurance in a deal valued at approximately Rs 4,500 crore. This marks a significant diversification for Patanjali, which is primarily known for its ayurvedic and consumer goods products. The move signals the Baba Ramdev-led conglomerate's ambitions to expand into financial services.

Read the full story at Times of India

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Patanjali Ayurved gets IRDAI approval to acquire Magma General Insurance for Rs 4,500 cr · ShortSingh