Value of LIC holdings in Adani stocks January-February 2023, by subsidiary
As of February 2023, the Indian state-owned Life Insurance Corporation, one of the biggest institutional investors in Adani stocks, lost around 385.09 billion Indian rupees in the wake of the latter's plummeting stocks. LIC holdings in Adani Total Gas witnessed a significant decrease in value since January 24, 2023. Post the release of the Hindenburg report alleging fraud and stock manipulation among others, the Adani stocks have witnessed a significant fall.