The Insurance Regulatory and Development Authority of India (Irdai) has approved the ₹4,500-crore acquisition of Magma General Insurance by Patanjali Ayurved and DS Group from Adar Poonawalla-owned Sanoti Properties, more than one-and-a-half years after the deal was originally announced.

“…the IRDAI vide its letter dated July 28, 2026, has granted approval with respect to proposed acquisition of shares along with the terms and conditions for the said acquisition. The approval shall be valid for a period of 3 months from the date of the IRDAI communication,” Magma General Insurance said in an exchange filing on Wednesday.

In March 2026, Sanoti Properties had announced the sale of its stake in Magma General Insurance to Patanjali Ayurved and DS Group for ₹4,500 crore, subject to regulatory approvals. Under the share purchase agreement (SPA), Patanjali Ayurved will acquire a 73.56% stake in Magma General Insurance, while DS Group will acquire 24.50% from Sanoti Properties and other selling shareholders, including Celica Developers and Jaguar Advisory Services. Prior to the transaction, Sanoti Properties held a 72.4% stake in the insurer.

Magma General Insurance, which operates across motor, health, property and other commercial insurance segments, reported a gross written premium (GWP) of ₹4,057 crore in FY26, up from ₹3,635 crore in FY25. The company posted a net profit of ₹29 crore in FY26, compared with ₹1 crore in FY25, after reporting a loss of ₹141 crore in FY24.

Patanjali Ayurved manufactures and markets herbal and nature-based products, medicines and other fast-moving consumer goods (FMCG), while DS Group has a diversified portfolio spanning mouth fresheners, food and beverages, confectionery, hospitality, agriculture, luxury retail, tobacco and other investments.

The acquisition is expected to help Magma General Insurance leverage Patanjali Ayurved’s extensive distribution network, particularly in rural markets. Patanjali products are available through over 2 lakh retail counters, national retail chains such as Reliance Retail, HyperCity and Star Bazaar, besides more than 250 Patanjali Mega Stores.

Magma General Insurance currently has a multi-channel distribution network comprising 22,191 partners, including agents, brokers, corporate agents, motor insurance service providers and web aggregators.