LIC says it has exposure of Rs 36,474.78 crore to Adani group
Mumbai, Jan 30: Life Insurance Corporation (LIC) on Monday said it has an exposure of Rs 36,474.78 crore to Adani group's debt and equity, and the amount is less than one per cent of the national insurer's total investments.
LIC's total assets under management stood at over Rs 41.66 lakh crore as of September 2022.
The disclosure by the insurer, which is also the country's largest domestic institutional investor, comes amid Adani group stocks taking a beating on the bourses after the short-selling specialist firm Hindenburg Research in a report made a litany of allegations, including fraudulent transactions and share price manipulation, at the Gautam Adani-led group. The allegations have been rejected by the group.
"Our total holding in the Adani group companies under equity and debt a on date is Rs 36,474.78 crore. This was Rs 35,917.31 crore as of December 31, 2022. Total purchase value of these equities of the group companies, bought over the past many years, is Rs 30,127 crore and the market value for the same at close of market hours on January 27, 2023 was Rs 56,142 crore," LIC said in a tweet.
Adani group has 10 listed companies.
However, the insurer did not disclose about its exposure on an individual company basis.
According to LIC, credit ratings of all Adani debt securities held by it are rated 'AA' and above which is in compliance with the Irdai investment regulations.
The Hindenburg Research report came two days before Adani Enterprises' Rs 20,000 crore Follow on Public Offer (FPO) that opened last week on January 27. The anchor investors' quota was fully subscribed on January 26.
LIC invested about Rs 300 crore in buying 9,15,748 shares in the ongoing FPO as an anchor investor. LIC already had 4.23 per cent stake in the company.
In all 33 institutional investors put in Rs 5,985 crore as anchor investors in Adani Enterprises' FPO.
Adani group's listed companies have lost more than USD 70 billion in total market capitalisation since the report was published on January 24.
#LIC pic.twitter.com/eqg1MMvcmo
— LIC India Forever (@LICIndiaForever) January 30, 2023
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'Go back to your own country': Indian-origin taxi driver attacked in Dublin
London, Aug 5 (PTI): An Indian-origin taxi driver based in Ireland for over 23 years has become the latest to be targeted in an unprovoked attack in the capital Dublin, with local police (Gardai) launching an investigation into the violent assault.
Lakhvir Singh, in his 40s, told local media that he picked up two young men in their 20s on Friday night and dropped them at Poppintree, in the Ballymun suburb of Dublin.
Upon arriving at the destination, the men are said to have opened the vehicle door and struck him twice on the head with a bottle. As the suspects fled, they reportedly shouted: "Go back to your own country".
"In 10 years I've never seen anything like this happen," Singh told ‘Dublin Live’.
"I'm really scared now and I'm off the road at the moment. It will be very hard to go back. My children are really scared," he said.
A Dublin police spokesperson said Singh was taken to the city's Beaumont Hospital with injuries determined as not life-threatening.
"Gardaí are investigating an assault reported to have occurred in Poppintree, Ballymun, Dublin 11 at approximately 11:45 pm on Friday, 1st August 2025. A man, aged in his 40s, was brought to Beaumont Hospital for treatment of non-life-threatening injury. Investigations are ongoing," the spokesperson said.
The incident followed an Indian Embassy advisory, also issued on Friday, expressing safety concerns following recent attacks in and around the capital Dublin and urging Indian citizens to take safety precautions.
"There has been an increase in the instances of physical attacks reported against Indian citizens in Ireland recently,” states the advisory.
“The embassy is in touch with the authorities concerned in Ireland in this regard. At the same time, all Indian citizens in Ireland are advised to take reasonable precautions for their personal security and avoid deserted areas, especially at odd hours," the statement reads, adding emergency embassy contact details as 0899423734 and cons.dublin@mea.gov.in.
It came in the wake of a brutal attack on a 40-year-old Indian man at Parkhill Road in the Tallaght suburb of Dublin on July 19, described as “mindless, racist violence” by locals.
The Gardai had opened an investigation into the case and Indian Ambassador to Ireland Akhilesh Mishra was among those who took to social media to express shock over the attack.
“Regarding the recent incident of physical attack on an Indian national that happened in Tallaght, Dublin, the embassy is in touch with the victim and his family. All the requisite assistance is being offered. The embassy is also in touch with the relevant Irish authorities in this regard,” the embassy said in a social media post days after the incident.
A Stand Against Racism protest was also held by the local community in condemnation of what was described as a "vicious racist attack" and to express solidarity with migrants.
Last week, Dr Santosh Yadav took to LinkedIn to post details of a “brutal, unprovoked racist attack”.
The entrepreneur and AI expert stressed that it was not an isolated incident and called for “concrete measures” from the governments of Ireland and India to ensure Indians feel safe to walk the streets of Dublin.
His post revealed that a group of six teenagers attacked him from behind as he walked to his apartment in Dublin.
“This is not an isolated incident. Racist attacks on Indian men and other minorities are surging across Dublin — on buses, in housing estates, and on public streets. Yet, the government is silent. There is no action being taken against these perpetrators. They run free and are emboldened to attack again,” reads Yadav's post.
Fine Gael party Councillor for Tallaght South, Baby Pereppadan, was among those who expressed concern following last month’s attack.
“People need to understand that many Indian people moving to Ireland are here on work permits, to study and work in the healthcare sector or in IT and so on, providing critical skills,” he said.
Another violent anti-Indian attack in Ireland
— Journalist V (@OnTheNewsBeat) August 5, 2025
Taxi driver Lakhvir Singh was attacked with glass bottles while doing his job pic.twitter.com/mtkwhLWISx
