Divya Delhi: Patanjali Ayurved and other foundations will acquire a controlling stake in Magma General Insurance after the board approved a share purchase deal. Patanjali Ayurved and DS Group would buy the insurance for Rs 4,500 crore, pending regulatory permission. Baba Ramdev's Patanjali Ayurved is a renowned manufacturer and marketer of herbal, nature-based, medicinal, and FMCG items. The Dharampal Satyapal Group  DS Group, founded in 1929, is a major Indian conglomerate that operates in food and beverages, confectionery, mouth fresheners, hospitality, dairy, luxury retail, and agriculture. Patanjali Group's first major financial action. The purchase requires clearance from Irdai, the Competition Commission of India, the company's debt holders, and other regulators. After completion, the buyers will invest further in the company. Sanoti Properties LLP, owned by Adar Poonawalla 90% and Rising Sun Holdings 10%, owns 72.5%. Poonawalla's Rising Sun Holdings bought 60% of Magma Fincorp, an NBFC with a German insurer, in 2021.  "Magma General Insurance has methodically established its retail and corporate business, with over 18,000 agents, 2,000 corporates, 14 OEMs, including all the main OEMs, and 80 financial services firms. Patanjali Ayurved and the DS Group, we are optimistic it will continue to contribute to the general insurance business."