BENGALURU: Jio Financial Services (JFS), the demerged entity of Reliance Industries, will be included in the indices of the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE) effective July 20. Both exchanges will conduct special pre-open sessions for RIL on Thursday.
JFS will be included in the indices for a brief period until it gets officially listed on the stock exchanges. Earlier this month, RIL had fixed July 20 as the record date for the purpose of determining the shareholders who are entitled to receive shares of Reliance Strategic Investments Ltd (RSIL), which will be renamed as Jio Financial Services.
The Bombay Stock Exchange said that Jio Financial will be added to 18 of the S&P BSE indices, including the S&P BSE Sensex, starting July 20 for a period of three days. Apart from Nifty 50, Jio Financial will be temporarily added to 18 other indices of NSE, including Nifty 100, Nifty 200, Nifty 500, Nifty Energy, and Nifty Oil & Gas.
“NSE has announced special pre-open session to be conducted for Reliance Industries Limited in Capital Market segment on July 20, 2023 on account of demerger of its financial services business into Reliance Strategic Investments Limited,” the bourse added in a circular.
Reliance Industries had previously announced plans to demerge its financial services undertaking into Reliance Strategic Investments Ltd (RSIL) and rename and list it as Jio Financial Services Ltd.
The National Company Law Tribunal has already given its approval to the demerger of the company’s financial services undertaking and its listing.