Jan 28 (Reuters) – Index supplier MSCI mentioned on Saturday it was in search of 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 companies have fallen since Hindenburg on Tuesday flagged considerations about debt ranges and using tax havens.
“MSCI is carefully monitoring publicly obtainable info concerning the scenario and the components which will impression the eligibility of these related securities for the MSCI World Investable Market Indexes,” it mentioned in a press release.
Adani Group didn’t instantly reply to Reuters request for remark. It has dismissed the Hindenburg report as baseless and mentioned it was contemplating whether or not to take authorized motion in opposition to the New York-based agency.
India’s capital markets regulator was finding out 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 intensely nicely researched”.
Reporting by Akriti Sharma in Bengaluru; Enhancing by William Mallard
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