LIC claims its equity exposure in Adani Group at 0.97% of total AUM

The Life Insurance Corporation (LIC) of India has claimed it has almost doubled its wealth invested in Adani group asset investments over the period

BS Web Team New Delhi
Most large global investors may give LIC's initial public offering a miss

India's Life Insurance Corporation (LIC) said on Monday that its total exposure in Adani Group companies is less than 1 per cent of its total assets under management (AUM) at book value.

It said in a press release that the total value of Adani group company shares it has purchased over the last many years is Rs 30,127 crore. This amounts to a market value of Rs 56,142 crore, based on the closing price on January 27.

The clarification came as Adani Group firms have been battered owing to a scathing report on the conglomerate by US short-seller Hindenburg Research.

"LIC's total holding under equity and debt is Rs 35,917.31 crore as on December 31, 2022 under Adani group of companies. The total purchase value of equity, purchased over the last many years, under all the Adani group companies is Rs 30,127 crore and the market value for the same as at close of market hours on January 27, 2023 was Rs 56,142 crore. The total amount inve

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First Published: Jan 30 2023 | 4:07 PM IST

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