HDI-Gerling takes 26% stake in Indian Magma ready for FDI increase
German insurance company HDI-Gerling has paid four times premium on Rs26 crore for its 26% stake in Indian firm Magma HDI General Insurance Co with a commitment of raising the holding to 49% when the government allows it.
The two-way joint venture between HDI and Magma Fincorp will start operations with Rs208 crore capital while Rs100 crore is the paid up capital. Both partners have invested proportionately towards the
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