IRDAI Approves Patanjali Ayurved and DS Group's Acquisition of Magma General Insurance

In July 2026, the Insurance Regulatory and Development Authority of India (IRDAI) approved the acquisition of Magma General Insurance (from Adar Poonawalla-owned Sanoti Properties) by Patanjali Ayurved and the DS Group for Rs 4,500 crore. Under the deal, Patanjali Ayurved acquires a 73.56% stake and DS Group 24.50%. IRDAI also approved a licence for ProTec General Insurance (a JV of the M Pallonji Group and True North's Divya Sehgal). The approval was granted under Section 6A of the Insurance Act, 1938, and is valid for three months.