Baba Ramdev’s Patanjali Ayurved has made a major move into the insurance industry by acquiring a majority stake in Magma General Insurance. This marks a significant expansion for Patanjali, which is well known for its Ayurvedic products, wellness services, and consumer goods. With this acquisition, the company is diversifying its business and entering the competitive general insurance market, as reported by CNBC TV18.
Patanjali Becomes Promoter of Magma General Insurance
With this deal, Patanjali Ayurved will now be the promoter entity of Magma General Insurance. This change is expected to bring new dynamics to the Indian insurance industry and reflects Patanjali’s broader business ambitions. The company has been expanding beyond its traditional sectors, and this step further strengthens its presence in financial services.
Key Sellers in the Transaction
The stake in Magma General Insurance was previously held by several notable investors. The biggest seller in this deal is Senoti Properties, a joint venture between Adar Poonawalla and Rising Sun Holdings, which had a 74.5% stake in the company before the transaction.
Other entities selling their stakes include:
- Celica Developers
- Jaguar Advisory Services
- Keki Mistry
- Atul DP Family Trust
- Shahi Sterling Exports
- QRG Investments & Holdings
This acquisition highlights Patanjali’s strategy of expanding into new business sectors and leveraging its strong brand presence in India. It remains to be seen how the company will shape its insurance business and compete in the growing market.
