LIC, the country’s largest insurance company, has invested heavily in Adani’s companies. LIC has 9 percent stake in Adani’s five companies. LIC has invested around Rs 77,268 crore in Adani companies. Falling shares of Adani’s companies have also hit retail and institutional investors of the company. LIC is a major investor in Adani.
LIC has lost Rs 16,580 crore in the last two days due to fall in Adani shares. 6,232 crores will hit LIC due to fall in shares of Adani Total Gas. He has 5.96 percent stake in this company while Adani Enterprises has 4.23 percent stake. LIC has suffered a loss of Rs 3245 crore due to fall in Adani shares. Besides, Adani Port has incurred a loss of Rs 3095 crore to LIC and Adani Transmission has incurred a loss of Rs 3042 crore.
LIC’s stake in Adani Green is 1.28 per cent, resulting in a loss of Rs 875 crore to LIC. LIC has to bear a loss of 6,323 crores due to Adani Total Gas. This has increased the concern of LIC.