Kathmandu. The Washington Post’s report on LIC’s investment in the Adani Group has sparked a political controversy in the country. The opposition has questioned the government and LIC has completely rejected the US media reports.
The Washington Post report has accused LIC of investing $ 3.9 billion in the Adani Group. According to the report, the insurance company made this investment in May 2025 to benefit the Adani Group.
However, LIC has called the entire report misleading. The insurance company has claimed that this report has been released with the intention of tarnishing the clean image of LIC and harming India’s strong financial sector.
Now let’s find out how much LIC has invested in the Adani Group and where and in which companies LIC has the most investment in the country. Today we will also know about the top 10 investments of LIC.
As of September 2025, LIC holds stake in these Adani Group companies{{TAG_OPEN_strong_42 TAG_CLOSE_strong_42}}
- Adani port: 7.73% (which was 8.14% earlier)
- Adani Enterprises: 4.16%
- Adani Green Energy: 1.3%
- Adani Energy Solutions: 3.42%
- Adani Total Gas: 6%
- Ambuja Cement 7.31%
- ACC Limited: 9.95%
According to recent reports, LIC’s equity investment is around Rs 16 lakh crore. While its investment in Adani Group companies is about Rs 60,000 crore. This means that about 4% of LIC’s total investment is in Adani group companies. LIC has invested more in the shares of many other companies in the country than the Adani Group.
Top 5 Investments of LIC
}
LIC has the largest investment in Reliance Industries.TAG_OPEN_li_48 The investment of which is about Rs 1.38 lakh crore. This represents a 6.94% stake in RIL.
ITC Limited: LIC’s investment in this company is approximately Rs 82,3 TAG_OPEN_li_47 42 crore. This means that LIC has a 15.86% stake in ITC.
HD TAG_OPEN_li_46 FC Bank: LIC has an investment of about Rs 72,500 crore in this bank. LIC holds 5.45% stake in Yes Bank.
SBI: LIC holds a 9.59% stake in State Bank of India.TAG_OPEN_li_45 Which is equivalent to about Rs 68,000 crore.
LIC has an investment of approximately Rs 66,05 TAG_OPEN_li_44 3 crore in Larsen & Toubro Limited. That’s more than 13% of the company.
LIC’s investment in Infosys Ltd is around Rs TAG_OPEN_li_43 63,400 crore.
This means that the Adani Group is not among the top 5 investments of LIC. Although the Adani Group is important to LIC, its share is limited. LIC’s top 10 investments are still dominated by banking, IT and consumer companies.
According to the report, LIC’s equity portfolio includes more than 300 companies. It has at least 1% share. In the June 2025 quarter, LIC restructured its portfolio by reducing its stake in 81 companies and adding 4 public sector undertakings (PSU) defence stocks.
Statement about Adani Group’s investments
LIC’s investment in the Adani Group is significantly smaller than other large groups and is part of portfolio diversification. Without any government involvement, LIC makes its investment decisions by the board and follows regulatory guidelines.
Gautam Adani, the chairman of the Adani Group, is the second richest person in Asia. According to Forbes, his net worth is estimated to be Rs 6.22 lakh crore. He is ranked 27th in the list of the world’s richest people. The Adani Group empire spans the coal trade, mining, logistics, power generation, cement industry and distribution.
