{"id":550549,"date":"2023-01-28T10:49:21","date_gmt":"2023-01-28T05:19:21","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=550549"},"modified":"2023-01-28T12:37:35","modified_gmt":"2023-01-28T07:07:35","slug":"lic-doubles-down-on-adani-amid-short-seller-row","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/lic-doubles-down-on-adani-amid-short-seller-row\/","title":{"rendered":"LIC doubles down on Adani amid short seller row"},"content":{"rendered":"<p>India\u2019s largest life insurer is plowing more money into Gautam Adani\u2019s flagship unit, undeterred by a short seller\u2019s fraud allegations that wiped out more than Rs 4,08,122 ($50 billion) of the conglomerate\u2019s market value in two sessions. <\/p>\n<p>State-controlled Life Insurance Corp. of India is spending about Rs 302 crore ($37 million) as an anchor investor in a Rs 20,406 cr ($2.5 billion) new share sale by Adani Enterprises Ltd., according to a filing. The investment would add to its current holding of 4.23 per cent.<\/p>\n<p>LIC\u2019s investment signaled its vote of confidence in Asia\u2019s richest man and his beleaguered group on Jan. 25, which is facing its toughest test yet after US-based Hindenburg Research in its report earlier this week characterized its meteoric rise as \u201cthe largest con in corporate history.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>India\u2019s largest life insurer is plowing more money into Gautam Adani\u2019s flagship unit, undeterred by a short seller\u2019s fraud allegations that wiped out more than Rs 4,08,122 ($50 billion) of the conglomerate\u2019s market value in two sessions. State-controlled Life Insurance Corp. of India is spending about Rs 302 crore ($37 million) as an anchor investor in a Rs 20,406 cr ($2.5 billion) new share sale by Adani Enterprises Ltd., according to a filing. The investment would add to its current holding of 4.23 per cent. LIC\u2019s investment signaled its vote of confidence in Asia\u2019s richest man and his beleaguered group [&hellip;]<\/p>\n","protected":false},"author":40,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[146,130,234],"tags":[],"class_list":["post-550549","post","type-post","status-publish","format-standard","hentry","category-deccan-herald-newspapers","category-newspapers","category-power-deccan-herald-newspapers"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/550549","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/40"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=550549"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/550549\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=550549"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=550549"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=550549"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}