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Global index provider MSCI has announced changes to the MSCI India Index as part of its August 2026 review, adding four Indian companies while removing three existing constituents.
The revised index composition will come into effect from September 1, following adjustments after the market closes on August 31.
Lenskart, Groww parent among entrants
The companies added to the MSCI India Index include pharmaceutical firm Laurus Labs, eyewear retailer Lenskart Solutions, power transmission company Adani Energy Solutions and Billionbrains Garage Ventures, the parent company of digital investment platform Groww.
The latest additions represent sectors including healthcare, consumer retail, infrastructure and financial technology. Lenskart and Billionbrains Garage Ventures are among the recently listed companies to enter the global benchmark index within a year of their stock market debut.
Lenskart was listed on November 10, 2025, while Billionbrains Garage Ventures made its market debut two days later. Both companies have secured inclusion in the MSCI India Index within 10 months of listing.
To impact global funds tracking India
MSCI removed Astral, Balkrishna Industries and SBI Cards and Payment Services from the index as part of the periodic review.
Following the changes, the total number of constituents in the MSCI India Index will rise to 166 from 165. The index represents large and mid-cap segments of the Indian equity market and covers around 85% of India’s equity universe, according to MSCI.
The MSCI India Index is widely tracked by international investors, including passive funds and exchange-traded funds that use the benchmark to gain exposure to Indian equities. Any changes in index composition can lead such funds to rebalance their portfolios based on the revised constituents.
The August review was announced on August 12, with the updated composition scheduled to become effective from September 1 after the close of trading on August 31.
The inclusion of the four companies is expected to increase their visibility among global investors and potentially influence institutional fund flows linked to MSCI-tracking products.
