MSCI lifts restrictions on Adani Group stocks in August 2024 index review

The update includes changes to the Number of Shares (NOS), Foreign Inclusion Factor (FIF), and Domestic Inclusion Factor (DIF).

Index provider MSCI announced lifting of restrictions on the treatment of Adani Group stocks especially regarding their free float status. The update includes changes to the Number of Shares (NOS), Foreign Inclusion Factor (FIF), and Domestic Inclusion Factor (DIF). This will be will be implemented as part of the August 2024 Index Review, MSCI said

The logo of the Adani Group is seen on the facade of one of its buildings on the outskirts of Ahmedabad.(Reuters)

In February 2023, MSCI halted certain adjustments to Adani Group securities due to concerns about free float status of these stocks. At the time, MSCI said that the “characteristics of certain investors in Adani Group stocks created sufficient uncertainty” to exclude them from being considered as part of the free float. Owing to this, MSCI suspended “potential changes to the number of shares for the affected securities and deferred the implementation of non-neutral corporate events, subject to review.”