LIC says it has exposure of Rs 36,474.78 crore to Adani group
Mumbai, Jan 30 (PTI) Life Insurance Corporation (LIC) on Monday said it has an exposure of Rs 36,474.78 crore to Adani group’s debt and equity, and the amount is less than one per cent of the national insurer’s total investments.
LIC’s total assets under management stood at over Rs 41.66 lakh crore as of September 2022.
The disclosure by the insurer, which is also the country’s largest domestic institutional investor, comes amid Adani group stocks taking a beating on the bourses after the short-selling specialist firm Hindenburg Research in a report made a litany of allegations, including fraudulent transactions and share price manipulation, at the Gautam Adani-led group. The allegations have been rejected by the group.
