An Adani Group building is pictured on the outskirts of Ahmedabad, India, on April 13. A representative for the Adani Group declined to comment on the fundraising details. MSCI said that two Adani Group companies — Adani Transmission and Adani Total Gas Ltd — would be excluded from its India gauge at the end of this month. “Especially Adani Transmission, where there could also be some fundraising,” he added. An analysis by Bloomberg of exchange filings showed that Adani Enterprises and Adani Transmission have sought board approval for fundraising every year in April or May since at least 2019.
