LIC to invest Rs 1.05 lakh cr in equity, debt this fiscal
Life insurance major LIC plans to invest a whopping Rs 1,05,000 crore in equity and debt instruments in the current financial year, a top company official said.business Updated: May 20, 2009 21:00 IST
Life insurance major LIC plans to invest a whopping Rs 1,05,000 crore in equity and debt instruments in the current financial year, a top company official said.
"In FY 10, our gross investments in equity will be Rs 50,000 crore while we plan to invest Rs 55,000 crore in debt instruments," Life Insurance Corporation of India (LIC) Managing Director Thomas Mathew told PTI here.
During the last financial year, the company's gross investments in equity was Rs 40,300 crore and around Rs 48,000 crore in various debt instruments, Mathew said.
For the current financial year, LIC increased its investments in debt instruments and equity by around 20 per cent, sensing an opportunity with Indian companies looking at raising funds from domestic sources.
The company would invest in various debt instruments like corporate loans, non convertible debentures and project loans, he said.
"Our investments in debt instruments will be demand-driven," he said.