Patanjali Ayurved, the well-known Indian consumer goods and wellness brand, has expanded its footprint into the financial sector by acquiring a majority stake in Magma General Insurance. This strategic move marks Patanjali’s entry into the general insurance business, further diversifying its portfolio beyond FMCG and healthcare.
Following the transaction, Patanjali Ayurved will become the promoter entity of Magma General Insurance, signaling a significant shift in the industry. The acquisition involved the exit of key stakeholders, including Senoti Properties—a joint venture between Adar Poonawalla (90%) and Rising Sun Holdings—along with Celica Developers, Jaguar Advisory Services, Keki Mistry, Atul DP Family Trust, Shahi Sterling Exports, and QRG Investments & Holdings. Notably, Senoti Properties previously held a 74.5% stake in Magma General Insurance.
On the buying side, Patanjali Ayurved led the acquisition alongside SR Foundation, RITI Foundation, RR Foundation, Suruchi Foundation, and Swati Foundation. With this investment, Patanjali aims to leverage its brand trust and consumer reach to reshape the insurance sector.
