Resurfacing February 2023 data: LIC’s Adani equity holdings had fallen 11% below purchase cost to Rs 26,862 crore
LIC’s holdings in seven listed Adani group companies fell to Rs 26,862 crore as of Thursday, down 11% from their Rs 30,127 crore purchase value. Adani Group’s market capitalisation stood at Rs 7.15 lakh crore amid the Hindenburg-triggered sell-off.
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Why it matters to operators and investors
Based on December 2022 holdings, LIC’s seven listed Adani stakes were valued at Rs 26,862 crore on February 23, 11% below purchase cost, highlighting mark-to-market risk.
What to watch next
- LIC's next shareholding disclosures show stake reductions or additions.
- LIC discloses updated acquisition costs and market values.
- LIC's Adani holdings regain or fall further below the Rs 30,127 crore purchase cost.
- Adani announces debt repayments, asset sales or fresh capital.
- Adani Group's market capitalisation moves materially from Rs 7.15 lakh crore.
The counter-case
The sell-off could deepen LIC’s mark-to-market losses if governance concerns persist. However, an 11% shortfall against purchase cost does not establish realised losses or impaired claims-paying capacity, and the signal offers no direct evidence of deteriorating retail-company fundamentals.