Jio Financial Services shares to enter FTSE indices from July 20

livemint.com:

Reliance Industries' demerged entity Jio Financial Services (JFS) will be added to three of its indices ---FTSE All-World Comprehensive Factor Index, FTSE Emerging Comprehensive Factor Index, and the FTSE All-World ex CW Balanced Factor Index with effect from July 20, 2023. Besides, Jio Financial Services will be added to Russell RAFI Global Index, Russell RAFI Global Large Company Index, Russell RAFI Emerging Index, Russell RAFI Emerging Large Company Index, Russell RAFI Global ex US Index and Russell RAFI Global ex-US Large Company Index, FTSE Russell said in a separate release, according to a report by Business Today.

The changes will be subject to the completion of the demerger of Jio Financial Services (India) from Reliance Industries, FTSE added. FTSE noted that the listing date of Jio Financial Services has not yet announced.  It 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 FTSE. Also, the stock would be added to FTSE All-World Index, FTSE MPF All-World Index, FTSE Global Large Cap Index, FTSE Emerging Index, JPMorgan Diversified Factor Emerging Markets Equity Index, FTSE RAFI All World 3000 Index, FTSE RAFI All World 3000 Index QSR, FTSE RAFI Emerging Index and FTSE RAFI Emerging Index indices.

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. The number of shares of Jio Financial Services is based upon the demerged terms of 1 Jio Financial Services share per every 1 Reliance Industries share held,