Rahul criticises LIC over its investment in Adani group

By Pune Media On Jun 3, 2025

Taking a swipe at the Life Insurance Corporation (LIC) of India’s investment of ₹5,000 crore in the Adani group, Congress leader Rahul Gandhi on Tuesday (June 3, 2025) said public funds are being used for benefiting private entities.
| Photo Credit: ANI

Mr. Gandhi alleged that public funds of LIC collected through insurance premiums of common public have been invested by it in the Adani group.

“Money, policy, premium are yours; Security, convenience, benefit for Adani!” he said in a post on X, tagging a news report by Bloomberg that said LIC was the sole buyer in Adani Ports’ record Rupee bond sale.

Adani Ports and Special Economic Zone Ltd (APSEZ), in a statement last week, said it has raised ₹5,000 crore in its largest-ever domestic bond issue. APSEZ raised the fund through a 15-year Non-Convertible Debenture (NCD) from LIC, the statement added.

“Backed by APSEZ’s strong financials and a ‘AAA/Stable’ domestic credit rating, the issue locked in a competitive coupon rate of 7.75% per annum and was fully subscribed by LIC. The debentures will be listed on the BSE,” the statement said.

Published – June 03, 2025 08:42 pm IST

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