Index provider MSCI said on Thursday it had determined that some Adani securities should no longer be designated as free float after market participants raised concerns about the eligibility of the Indian conglomerate’s companies for some of its indexes.
Changes for Adani securities associated with its MSCI Global Investable Market Indexes are due to be announced later on Thursday as part of its regular review for February, it added.
“MSCI has determined that the characteristics of certain investors have sufficient uncertainty that they should no longer be designated as free float pursuant to our methodology,” it said in a statement.
