MSCI receives feedback; to do free float review of Adani Group securities

Index provider MSCI said on Thursday it was reviewing the free float status of Adani Group securities after market participants raised concerns about the eligibility of companies in the Indian conglomerate for some of its indexes.

“MSCI has received feedback from a range of market participants concerning the eligibility and free float determination of specific securities associated with the Adani Group for the MSCI Global Investable Market Indexes (GIMI),” it said in a statement.

MSCI said it defined the free float of a security as the proportion of shares outstanding available for purchase in the public equity markets by international investors.