Reliance Jio Financial Services To Exit FTSE Global Indices On August 22

Jio Financial Services, which is the demerged entity of Reliance Industries (RIL), will be removed from the FTSE - All World Index and other global indices with effect on August 22, global index aggregator FTSE Russell said in a statement.

Jio Financial Services (JFSL) did not commence trading after 20 days and no firm trading date has been announced by the conglomerate, the index aggregator decided to remove it from all indices.

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The demerged company of RIL was included by the index aggregator in several indices on July 20, with a share issue of 6,765,591,509 and an investability weighting of 49.66%. JFSL was also added to MPF All-World, Global Large Cap, and Emerging indices of FTSE.

Then, FTSE said that if the trading day remains unknown after 20 business days, it will review the company in accordance with the policy. RIL is yet to announce the date of listing for JFSL on the stock exchanges.

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Following the demerger of the business, the NSE and BSE added Jio Financial to key indices, including the Nifty 50 and Sensex on July 20. The price of Jio Financial is Rs 261.85 per share and the stock remains to be part of the indices at this constant value.

Dalal Street investors are expecting Chairman Mukesh Ambani to announce the listing date at the upcoming annual general meeting on August 28.