New Delhi: Life Insurance Company (LIC) stated in a statement on Monday that its total holding under equity and debt is Rs 35,917.31 crores as on December 31, in 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 crores and the market value for the same as at close of market hours on January 27 was Rs 56,142 crores," it added.
"The total amount invested in Adani Group amounts to Rs 36,474.78 crores as
on date. These investments have however been made over a period," said the statement. "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 the statement.
"The total Assets Under Management by LIC are over Rs. 41.66 lakh crore as on September
30, 2022. Therefore, LIC's exposure in the Adani group, as on date, is 0.975 percent of LIC's total AUM at book value," it added.
LIC also said that it "does not share details of its company and industrial group specific investments. However, given that certain information is being circulated in the various articles in media and video channels about LIC's exposure to Adani Group of companies, we are releasing the information to share the factual position regarding our exposure in Adani group of companies in the equity and debt segments."
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