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Patanjali Acquires Stake in Magma General Insurance
The New Indian Express Shivamogga
|March 14, 2025
Billionaire Adar Poonawalla's Sanoti Properties has approved the sale of its insurance subsidiary, Magma General Insurance Limited (formerly Magma HDI General Insurance Company Limited), to Patanjali Ayurved Limited and Noida-headquartered diversified conglomerate DS Group for nearly ₹4,500 crore.
The deal is subject to regulatory approvals and has been structured under a share purchase agreement (SPA). Besides Sanoti Properties, Celica Developers and Jaguar Advisory Services are also participating in the sale.
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