LIC clarifies on Adani shares: Equity exposure at Rs 56,142 crore

LIC has clarified that the total value of Adani group company shares it has purchased over the last many years is Rs 30,127 crore.

Life Insurance Corporation (LIC), India's largest institutional investor, has issued a clarification on January 30, regarding its exposure to the Adani group of companies in the light of huge volatility in the share prices of the Adani group of companies.

LIC has clarified 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.

This exposure by LIC in the Adani group as on date is 0.975 percent of the total assets under management (AUM) at book value. LIC further said that the credit rating of all of Adani's debt securities are ‘AA’ and above, and hence its investments comply with IRDAI (Insurance Regulatory and Development Authority of India) guidelines.