Our Exposure In Adani Group Stands At Rs 36,474.78 Cr: LIC

The Life Insurance Corporation of India (LIC) explained on Monday that its overall exposure to Adani Group companies amounts to less than 1% of its total assets under management (AUM) at book value. The explanation was made at a time when Adani Group companies were suffering as a result of a damning analysis by US short-seller Hindenburg Research on the group.

"LIC's total holding under equity and debt is Rs 35,917.31 crore as on December 31, 2022, under the 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 invested under Adani Group amounts to Rs 36,474.78 crore as on date. These investments have however been made over a period. Further, it may be appreciated that the credit rating of all of the Adani debt securities held by LIC are AA and above which is in compliance with the IRDAI investment regulations as applicable to all the life insurance companies," said LIC in a statement.

The total assets under management by LIC are over Rs 41.66 lakh crore as of September 30, 2022. Therefore, LIC's exposure in the Adani group, as on date, is 0.975% of LIC's total AUM at book value, the insurer said.