© Reuters. The brand of the Adani Group is seen on the facade of its Company Home on the outskirts of Ahmedabad, India, January 27, 2023. REUTERS/Amit Dave
(Reuters) – Index supplier MSCI stated on Saturday it was looking for suggestions on Adani Group and related securities and was conscious of a report issued by short-seller Hindenburg Analysis.
Seven listed firms of the Adani conglomerate – managed by one of many world’s richest males Gautam Adani – have misplaced a mixed $48 billion in market worth and U.S. bonds of Adani corporations have fallen since Hindenburg on Tuesday flagged considerations about debt ranges and using tax havens.
“MSCI is intently monitoring publicly obtainable data relating to the state of affairs and the components which will impression the eligibility of these related securities for the MSCI World Investable Market Indexes,” it stated in a press release.
Adani Group didn’t instantly reply to Reuters request for remark. It has dismissed the Hindenburg report as baseless and stated it was contemplating whether or not to take authorized motion in opposition to the New York-based agency.
India’s capital markets regulator was learning the Hindenburg report as it could assist its personal probe into offshore fund holdings of Adani Group, Reuters reported on Friday.
Billionaire U.S. investor Invoice Ackman on Thursday described the Hindenburg report “extremely credible and very effectively researched”.
