Financial index provider MSCI said it will lower free float of two Adani Group companies from 25 percent — Adani Total Gas at 14 percent; and Adani Transmission at 10 percent, in its May index review, Reuters reported.
Free float is the proportion of outstanding shares available for purchase in public equity markets for international investors.
This comes after the MSCI in February delayed implementation of weightage updates that were due in March over “potential replicability issues”. It said that its methodology requires indexes to be replicated "in an actual portfolio in a cost efficient matter".
It had then also said free float designation of some Adani companies would be reviewed following the Hindenburg report accused the Group of stock manipulation and improper use of tax havens.
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