Adani Wilmar to be dropped from S&P BSE IPO index

Asia Index, which is a 50-50 partnership between S&P Dow Jones Indices LLC and India's BSE Ltd, said the reconstitution will be effective from February 20

The Adani Group has been under investor pressure since US-based short-seller Hindenburg Research alleged that the conglomerate had inflated share prices and indulged in stock manipulation. Credit: Reuters Photo

Asia Index Pvt Ltd said on Friday Adani Wilmar Ltd will be dropped from the S&P BSE IPO index.

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Asia Index, which is a 50-50 partnership between S&P Dow Jones Indices LLC and India's BSE Ltd, said the reconstitution will be effective from Feb. 20.