Patanjali Ayurved enters the insurance sector
New Delhi: Baba Ramdev-led Patanjali Ayurved is expanding its business empire by entering the general insurance sector. To this end, it has acquired a 73.6% equity stake in Magma General Insurance Company. The Insurance Regulatory and Development Authority of India (IRDAI) has approved this acquisition. Additionally, the DS Group—makers of Rajnigandha Pan Masala—has acquired a 24.5% stake in Magma General Insurance.
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