Yoga guru Baba Ramdev's company Patanjali Ayurveda has now entered the insurance sector. The company has acquired a major stake in Magma General Insurance. After the completion of this transaction, Patanjali Ayurveda has also become the promoter company of Magma General Insurance.

Under this deal, the major sellers selling their stake in Magma General Insurance include companies like Senoti Properties, Selica Developers, Jaguar Advisory Services, Keki Mistry, Atul DP Family Trust, Shahi Sterling Exports, and Shahi Sterling Exports. Let us tell you that Adar Poonawala's Senoti Properties had a 74.5% stake in Magma General Insurance, which is now being transferred to the group led by Patanjali Ayurveda.

Buyers of insurance

Along with Patanjali Ayurveda, other major buyers include organizations like SR Foundation, Riti Foundation, RR Foundation, Suruchi Foundation, and Swati Foundation. The deal also signals a strong presence of Patanjali Ayurveda in the Indian insurance sector. It is also considered an important step in the company's expansion plans in the coming times. This transaction is expected to provide new opportunities for Magma General Insurance, which is trying to strengthen its market position in India. Patanjali's presence can provide substantial synergy for the insurance company, as it seeks to expand its reach and market share in the general insurance sector.

Share Price

In the last 1 year, the company's stock has increased by 27.49 percent. On the other hand, if we talk about 2 years, the company's stock has seen a rise of 77.54 percent and within 3 years the company's stock has increased by 113.14 percent, in 5 years the company's stock has increased by 1698.43 percent.

Disclaimer: This content has been sourced and edited from tv 9. While we have made modifications for clarity and presentation, the original content belongs to its respective authors and website. We do not claim ownership of the content.