LIC has made net gains of Rs 27,300 crore from investments in Adani Group shares. LIfe Insurance Corp's total investment in Adani shares has been at Rs 28,400 crore. The value of these shares before the crash of last week was Rs 72,200 crore.

The crash happened because of a research report by short seller, Hindenburg Research. Still, the value of Adani Group shares held by LIC is at Rs 55,700 crore and LIC's net gain is Rs 27,300 crore.

Adani Group has said in an earlier statement that accounting (or fraud type assertions) "investigation" by Hindenburg are devoid of facts. Of the Adani portfolio's 9 public listed entities, 8 are audited by one of the Big 6. On leverage or over leverage issue Â- 100 of our various companies are rated (these account for nearly 100% of our EBITDA),

Adani Enterprises said in a stock exchange filing. On revenue or balance sheet being artificially inflated or managed - out 9 listed companies in Adani portfolio, 6 are subject to specific sector regulatory review for revenue, costs and capex, Adani Group said. "In relation to governance, 4 of our large companies are in top 7% of the peer group in Emerging markets or the sector or the world.

On the LAS position, do note that overall promoter leverage is less than 4% of promoter holding, the group said. Meanwhile, Adani Group CFO Jugeshinder Singh on Sunday said no change in offering price or schedule is being considered due to temporary volatility in the market as the FPO of Adani Enterprises Ltd is the best vehicle for strategic institutional investors to own a pie of the conglomerate's fast expanding businesses.

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