Jio Financial Services To Remain In FTSE Indices; To Be Added To MSCI Global Standard Index On August 23 | File
Jio Financial Services, which was demerged from Reliance Industries Limited will continue to remain in the indices of FTSE Russell and will be added to the MSCI Global Standard Index on August 23. This comes after Bombay Stock Exchange and National Stock Exchange announced that Jio Financial Services will begin trading on Monday.
The addition of MSCI Global Standard Index was notified by the global index aggregator on August 18.
On the other hand FTSE said that it has reversed the decision to drop Jio Financial Services from its indices from August 22. According to the notifications issued on the website the index manager reversed the decision for each of the indices. Earlier, the FTSE said that JFS was being removed from the FTSE All-World Index, FTSE Emerging Index, FTSE MPF All-World Index and FTSE Global Large Cap Index.
Jio Financial Services share price
Jio Financial Services is currently listed under a dummy ticker and will begin trading at a price of Rs 261.8 per share. This price was derived through a special pre-open session that was conducted by the exchanges on Reliance stock on July 20.
The board of Jio Financial Services had allotted 635.32 crore shares with a face value of ₹10 to the eligible shareholders of Reliance Industries. The shareholders received one share each for every one share they held. The shares of JFSL were credited to the Demat account of shareholders last week.
“Trading Members of the Exchange are hereby informed that effective from Monday, August 21, 2023, the equity shares of Jio Financial Services Ltd (formerly known as Reliance Strategic Investments Limited) shall be listed and admitted to dealings on the Exchange in the list of T Group of Securities,” BSE said in a notice.
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