IRDAI Clears ₹4,500 Crore Acquisition of Magma General Insurance by Patanjali Ayurved and DS Group
Patanjali Ayurved is acquiring a controlling stake of 73.56%, while entities linked with the DS Group will hold roughly 24.50%, bringing the combined acquired equity to 98.055%.
The transaction involves acquiring the ownership from Sanoti Properties, a company owned by Adar Poonawalla, for an aggregate valuation of ₹4,500 crore.
This transaction marks a significant entry of major non-traditional FMCG and consumer brand conglomerates into India's general insurance sphere.
Key Facts / Static GK
IRDAI Headquarters: Hyderabad, Telangana
IRDAI Chairman: Debasish Panda
Q Practice Quiz — 30 July 2026
1. What is the total combined stake approved by IRDAI for Patanjali Ayurved and DS Group foundations in Magma General Insurance?
Explanation: IRDAI approved the acquisition of a 98.055% total stake in Magma General Insurance, comprising 73.56% by Patanjali Ayurved and approximately 24.50% by DS Group-associated foundations.
2. What amount was paid by the Life Insurance Corporation of India (LIC) as dividend to the Government of India for Financial Year 2025-26?
Explanation: LIC presented a dividend payout of ₹12,207.25 crore to Union Finance Minister Nirmala Sitharaman for the Financial Year 2025-26.
3. What is the annual coupon rate offered by State Bank of India on its ₹4,691 crore Additional Tier-1 (AT1) bond issuance for FY 2026-27?
Explanation: SBI issued its first AT1 bonds of FY 2026-27 raising ₹4,691 crore at a fixed annual coupon rate of 7.75%.
4. Which iconic international landmark recently became the first UAE tourist attraction to accept UPI for online ticketing?
Explanation: Burj Khalifa became the first UAE tourist landmark to integrate UPI for online ticket bookings via NIPL, NEOPAY, and Emaar Entertainment.
5. Which entity launched India's first employee-controlled 'Flexi Benefits Basket' enabled on UPI?
Explanation: OmniCard, operated by Eroute Technologies Private Limited, launched India's first Flexi Benefits Basket on UPI.
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