Last updated: February 02, 2023, 7:39 PM IST
The Life Insurance Corporation (LIC) has issued a press release clarifying that their total equity and debt holding in companies of the Adani Group is Rs 35,917.31 crore as of 31 December 2022.
The total purchase value of equity among all Adani Group companies is Rs 30,127 crore and the market value for it at the end of the stock market on Jan 27, 2023 is Rs 56,142 crore, according to LIC.
“The total amount invested under Adani Group is Rs 36,474.78 crore as of date. However, these investments have been made over a period of time. It may further be noted that the credit rating of all debt securities held by LIC is Adani AA and above is in compliance with IRDAI investment regulations as applicable to all life insurance companies,” the LIC press release said.
The statement added that the total assets under management (AUM) by LIC is more than Rs 41.66 lakh crore as of September 20, 2022. book value,” the statement added.
The Adani Group on Wednesday withdrew its fully underwritten FPO worth Rs 20,000 crore, saying it is committed to protecting the interests of investors. In withdrawing the FPO, the conglomerate cited “market volatility” as one of the factors.
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