Patanjali enters insurance sector after IRDAI approval

Patanjali Ayurveda has entered India's insurance sector after the Insurance Regulatory and Development Authority of India (IRDAI) approved its ₹4,500 crore acquisition of a majority stake in Magma General Insurance. The Baba Ramdev-led company will acquire a 73.6% stake. The deal marks Patanjali's expansion beyond FMCG into the financial services sector.