Patanjali Ayurveda and Dharampal Satyapal Group have received approval from insurance regulator IRDAI to buy stake in Magma General Insurance. The company gave this information in its stock exchange filing on Wednesday. According to media reports, this deal has been done for approximately Rs 4,500 crore. The regulator has given the green signal to this acquisition through a letter dated July 28, 2026. This approval will be valid for the next 3 months from the date of issue of the letter. Patanjali will buy 73.6% stake. Under this deal, Patanjali Ayurved will buy 73.6% stake, while Dharampal Satyapal Group will become the owner of 24.5% stake. Earlier, the largest shareholder of this company was Sanoti Properties (Adar Poonawala Group). After getting the approval of IRDAI, Patanjali will now become the promoter company of Magma General Insurance. The share purchase agreement was signed in March 2025. The deal started in March 2025, when the share purchase agreement (SPA) was signed between Patanjali-led buyer group and the existing shareholders. The company had informed the exchanges about this on March 12, 2025. Subsequently, the long-stop date of the agreement was extended to March 12, 2026 due to delays in the regulatory review process. The deal was stuck under regulatory review for almost 16 months after the regulatory approval agreement was signed. After getting the green signal from IRDAI, the way for change of ownership has now been cleared. The buyer group will now have to complete the share transfer within the stipulated time frame of next three months and fulfill the conditions laid down by IRDAI. Ownership will change in Magma General Insurance. The ownership transfer of Magma General Insurance will be completed after all the necessary formalities, legal processes and contract related conditions are completed. With this, the presence of Baba Ramdev and Acharya Balkrishna’s Patanjali Group in the insurance sector will be further strengthened.
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Patanjali Group will buy Magma General Insurance Company: Got approval from IRDAI, deal was signed in March 2025; The process will be completed in 3 months
