FTSE withdraws decision to remove Jio Financial from global indices

Following the announcement that Jio Financial shares will start trading on Monday by BSE and the NSE, the decision was made. 

“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,” a notice on BSE said.

Also Read: Jio Financial Services to be listed on stock exchanges on August 21

According to FTSE, Jio Financial will have an unchanged share issuance of 6,765,591,509 and an investability weighting of 49.66% in the FTSE All-World index.

“Further to the FTSE Russell notice released on 17 August 2023 in relation to Jio Financial Services (India): Constituent Deletion, based on the latest exchange information announced on 18 August 2023 regarding Jio Financial Services’s listing date as 21 August 2023, please be advised that Jio Financial Services will no longer be deleted from the indexes effective 22 August 2023 and remain in the index with an unchanged share in issue total of 6,765,591,509 and an unchanged investability weighting of 49.66%,” said  FTSE Russell in its release.

On Thursday, FTSE Russell said that Jio Financial Services was being removed from several FTSE Indices for failing to commence trading after 20 business days.

A notice shared by FTSE Russell said that the company had also not announced a firm trading date since its inclusion on July 20. The omission will come into effect from August 22.

As per the notice, Jio Financial Services was to be removed from FTSE RAFI All World 3000 Index, FTSE RAFI All World 3000 Index – QSR, FTSE RAFI Emerging Index and FTSE RAFI Emerging Index – QSR.

Also Read: Jio Financial to be removed from FTSE Indices

Jio Financial Services is currently listed under a dummy ticker and no trading is happening in the scrip.

“The scrip will be in trade-for-trade segment for 10 trading days,” the BSE notice added.

Jio Financial Services shares were credited to the eligible RIL shareholders as of the record date of July 20 in the ratio of 1:1.

The value of Jio Financial Services share price was derived at ₹261.85 apiece on the NSE after the special pre-open call auction session held on stock exchanges on July 20.

Updated: 18 Aug 2023, 07:10 PM IST