LIC Holds Over ₹48,000 Crore Investments in Adani Group

Chennai: Public sector insurance company Life Insurance Corporation (LIC) has over Rs 48,000 crore investments in Adani Group as equity and debt. The investment value in Adani Group has grown 24 times since 2007. LIC has Rs 48,284 crore investments in the group as of September 30, 2025. Of this, Rs 38,658 crore is equity investment and Rs 9625 crore in debt, the government informed the Lok Sabha. LIC has invested Rs 8470 crore as equity in Adani Enterprises, and Rs 8646 crore in Adani Total Gas. In Adani Ports and SEZ, the insurer has invested Rs 5681 crore as equity and Rs 9625 crore as debt. Further, Rs 3486 crore has been invested in Adani Green Energy as equity, and Rs 3729 crore in Adani Energy Solutions. In Adani Group’s ACC Ltd, LIC has invested Rs 1124 crore as equity and Rs 2856 crore as debt. In Ambuja Cements, the equity investment is Rs 674 crore and debt is Rs 5787 crore. Of this, LIC had recently invested Rs 5000 crore in secured Non-Convertible Debentures (NCD) issued by Adani Ports Special Economic Zone (APSEZ) in May 2025. In 2007, the total investment stood at Rs 2041 crore, of which equity was Rs 1927 crore and debt Rs 114 crore – marking a growth of 24 times by 2025. In 2007, Adani Ports and SEZ had a total investment of Rs 192 crore and Adani Exports Rs 50 crore. The main chunk of investment was in ACC Ltd, which had Rs 1076 crore as equity and Rs 48 crore as debt. Similarly, Ambuja Cements had Rs 674 crore as equity investment from LIC. However, these cement companies became part of Adani Group only by 2022. Hence the total investment of LIC in Adani Group in 2007 was less than Rs 250 crore. The top five private sector companies which have received investments from LIC as of September 30, 2025, include Reliance Industries, Infosys, Tata Consultancy Services, HDFC Bank and Hindustan Unilever. HDFC Bank, Reliance Industries, ICICI Bank, Shriram Finance and Adani Ports and SEZ are the top five private sector companies which have LIC investment as debt.