Business Standard

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

Most large global investors may give LIC's initial public offering a miss
Premium

BS Web Team New Delhi
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

Don't miss the most important news and views of the day. Get them on our Telegram channel

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

Explore News

To read the full story, subscribe to BS Premium now, at just Rs 249/ month.

Key stories on business-standard.com are available only to BS Premium subscribers.

Register to read more on Business-Standard.com