Tata, Reliance, Adani among top 5 recipients of LIC’s investments

Adani Group attracted investment of Rs 47,633.78 crore, while SBI attracted Rs 46,621.76 crore from LIC, Pankaj Chaudhary said

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Life Insurance Corporation of India (LIC) has invested the maximum amount of Rs 88,404 crore in the Tata Group, followed by an infusion of Rs 80,843 crore in HDFC Bank and Rs 60,065.56 crore in Reliance Group, Parliament was informed on Tuesday.

Adani Group attracted an investment of Rs 47,633.78 crore, while SBI attracted Rs 46,621.76 crore from LIC, Minister of State (MoS) for Finance Pankaj Chaudhary said in a written reply in the Rajya Sabha.

He said there are 35 domestic companies or groups in which LIC has invested more than Rs 5,000 crore each, aggregating to Rs 7.87 lakh crore.

The minister shared a list of business groups in which the combined exposure of LIC exceeds Rs 5,000 crore. The list includes L&T, Unilever, IDBI Bank, M&M, and Aditya Birla.

LIC has an exposure of Rs 3.23 lakh crore in these top five groups as against an aggregate of Rs 7.87 lakh crore in 35 companies.

He further said that LIC has a board-approved investment policy, which acts as an umbrella framework for any investment carried out by the investment department of the insurance company.