Adani Group: Hindenburg Report Spurs MSCI to Invite Feedback

The Adani Enterprises FPO is now almost certain to be undersubscribed. MSCI has reached out to the investment community for feedback on the eligibility of the Adani Group stocks in the GIMI.
- by Brian Freitas on Adani Transmission in Event-Driven

Key points:
1. The Adani Group stocks have taken a dive following the Hindenburg Research report. Group market cap is down more than US$47bn with company promoters taking the biggest hit.
2. The Adani Enterprises FPO is almost certain to be undersubscribed. MSCI, in an unprecedented step, is monitoring publicly available information and is seeking feedback from the investment community.
3. We find that the real float of some Adani Group stocks is much lower than the headline numbers and there could be selling if MSCI lowers the FIF.