(FE)
Reliance Industries’ subsidiary Jio Financial Services will enter three FTSE Russell indices: FTSE All-World Comprehensive Factor Index, FTSE Emerging Comprehensive Factor Index and FTSE All-World ex CW Balanced Factor Index. The demerged entity will be included in the indices 20 July onwards. However, Jio Financial Services will remain at a static price on FTSE indices, since the date of listing on exchanges has not been announced yet, following its demerger from Reliance Industries.
“[Jio Financial Services] will remain in the index at a static estimated price until its trading commences on the exchange. If the trading day remains unknown after 20 business days, FTSE Russell will review the company in accordance with the FTSE Russell Spin-offs policy,” said the index aggregator FTSE Russell. Additionally, a capital repayment which is equivalent to the entitlement value of Jio Financial Services will be applied to Reliance Industries on the ex-entitlement date, added the aggregator. The classification of Jio Financial Services will be under oil refining and marketing.
