‘It is not known what the actual situation is in the current situation. As the largest investor they have the right to question. We must negotiate with them. We are going through the 413 page response given by Adani Group. If there are problems, we will definitely bring them to their attention. However, we don’t think there will be any problems. However we ask them for more clarity. LIC Managing Director Raj Kumar told Reuters.
‘Deception cannot be concealed in that name’.. Hindenburg’s reply to Adani’s response
Public sector company LIC, the country’s largest insurer, said it has invested about 364.7 billion rupees ($4.47 billion) in Adani Group companies. 1 percent assets under management. On the other hand, LIC made a statement on Monday that investing in Adani Group shares will result in a profit of Rs.26 thousand crores instead of loss. Adani has invested a total of Rs 30,127 crore in the companies of the group, while last Friday’s market closing price, LIC said the investment value was Rs 56,142 crore.
On the other hand.. Adani Enterprises has 4.23 percent share. It owns 9 percent in Adani Ports, 6 percent in Adani Total Gas of Special Economic Zone and 3.65 percent in Adani Transmission. However, Adani’s shares fell sharply after the latest Hindenburg report. However, the LIC managing director’s announcement gained prominence after Gautam Adani asserted that its strategic, long-term investors have full faith in the company.
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Adani Group: ‘This is a deliberate attack on India’.. Adani Group’s 413-page response to Hindenburg Report
