Adani group finds an anchor in LIC

The state-owned life insurer has invested over Rs 78,000 crore in the group, most of it coming in the last two years.

A significant obstacle in Gautam Adani’s quest to reach a $1 trillion (Rs 81.7 lakh crore) valuation for his Adani group has been cast aside. The billionaire has found an anchor for the group’s stocks in Life Insurance Corporation of India as he focuses on the next decade of business expansion. 

Over the past two years, LIC has been accumulating shares in five of the seven listed Adani companies. The country’s largest life insurer has over Rs 78,220 crore invested in the group, which is 4.9x what mutual funds have in the same stocks. A year ago, LIC’s Adani group exposure stood at Rs 32,100 crore. 

These investments make the Adani group the third largest investee entity for LIC after Reliance Industries and the Tata group.  

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Advait Palepu

Advait writes on India’s banks, the wider financial services industry and the fintech ecosystem. He has previously worked with the Economic and Political Weekly, Business Standard, BloombergQuint and MediaNama, where he covered everything from the Reserve Bank of India to fintech policy.




T Surendar

Surendar helps lead the newsroom at The Morning Context as managing editor. Over the years, Surendar has worked across the pharmaceuticals, process engineering, diamonds and jewellery industries, as well as a stint as an equity research analyst. In his long career as a business journalist, he has been the national business features editor at Times of India, the business editor at India Today and led a team of feature writers in Fortune India, where he also conceptualized the only ranked list of India’s most powerful women in business. He was part of the founding team at Forbes India and interned and published in The Times, London. His areas of interest include large companies and entrepreneurship.

Managing Editor