(Reuters) – Index provider MSCI said on Saturday it was seeking feedback on Adani Group and related securities, noting a report from short-seller Hindenburg Research.
The seven listed companies of the Adani conglomerate controlled by one of the richest men in the world, Gautam Adani, lost their combined market capitalization 48 billion, Adani’s U.S. bonds have fallen since Hindenburg expressed concerns about the debt on Tuesday
“MSCI is closely monitoring Investing in publicly available information on the circumstances and factors of market index eligibility,” it said in a statement.
Adani Group did not immediately respond to a Reuters request for comment. It dismissed the Hindenburg report as baseless and said it was considering whether to take legal action against the New York-based company.
India’s capital markets watchdog is studying Hindenburg’s report, which could help its own investigation into Adani Group’s offshore fund holdings, Reuters reported on Friday. There is quantity.
Billionaire US investor Bill Ackman on Thursday described the Hindenburg report as “highly credible and well researched”.
