LIC claims multibagger return from its investments in Adani stocks, bonds
3 min read . Updated: 30 Jan 2023, 03:36 PM IST
Premium- The total purchase value of equity, purchased over the last many years, under all the Adani group companies is Rs. 30,127 crore and the market value for the same as at close of market hours on January 27th, 2023 was ₹56,142 crore, LIC told Mint
Despite heavy sell-off in Adani Enterprises shares and other Adani stocks after the Hindenburg Research report raising concern over debt positioning of Adani group companies, the Life Insurance Corporation (LIC) of India has claimed it has almost doubled its wealth invested in Adani group asset investments over the period.
“LIC's total holding under equity and debt is Rs. 35,917.31 crores as on 31.12.2022 under 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 27th, 2023 was Rs.56,142 Crores. The total amount invested under Adani Group amounts to Rs. 36,474.78 Crores as on date. These investments have however been made over a period," LIC said while answering a query by Mint.
“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. The total Assets Under Management by LIC are over Rs. 41.66 lakh crore as at September 30, 2022. Therefore, LIC's exposure in the Adani group, as on date, is 0.975% of LIC's Total AUM at book value," LIC further said in response to Mint's query.
LIC shareholding in Adani group stocks
As per the latest shareholding data of various Adani group companies available on BSE website, LIC holds 6,55,88,170 Adani Total Gas shares or 5.96 per cent stake in the company. In Adani Ports, LIC owns 19,75,26,194 shares or 9.14 per cent stake in the company. As per the shareholding pattern for October to December 2022 quarter, LIC holds 4,81,74,654 Adani Enterprises shares or 4.23 per cent stake in this Adani group company. Likewise, LIC holds 4,06,76,207 Adani Transmission shares or 3.65 per cent stake in the company.
According to shareholding pattern of Adani Green Energy Ltd for Q3FY23, LIC holds 2,03,09,080 shares or 1.28 per cent stake in the company. In Ambuja Cements Ltd, LIC holds 12,55,89,263 company shares or 6.33 per cent stake in this Adani group company, reveals shareholding pattern for recently ended December 2022 quarter. Similarly, shareholding pattern of ACC Ltd for third quarter of current fiscal informs that LIC holds 1,20,33,271 ACC shares or 6.41 per cent stake in the company.
