Jio Financial Services to be included in these Nifty indices from July 20; check full list

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Reliance Industries (RIL) has demerged its financial services arm - Reliance Strategic Investments, which will be renamed and listed as Jio Financial Services on July 20. The demerged entity will also be included in the Nifty 100, Nifty 200, and Nifty 500 indices, as well as other sectoral indices, the National Stock Exchange said on July 17.

"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 (‘spun-off entity’ to be renamed as Jio Financial Services Limited)," the bourse added in a circular. Nifty50, Nifty10, Nifty200, Nifty500, Nifty50 Equal Weight, Nifty100 Equal Weight, Nifty500 Multicap 50:25:25, Nifty Commodities, Nifty Energy, Nifty India Manufacturing, Nifty Infrastructure, Nifty LargeMidcap 250, Nifty Low Volatility 50, Nifty Mobility, Nifty Oil & Gas, Nifty Total Market, Nifty100 ESG, Nifty100 Liquid15, and Nifty100 Low Volatility 30.

Also Read: Jio Financial Services demerger this week. Why you should buy Reliance shares before JFSL record date? Earlier, Reliance had announced that it has set July 20 as the official date for determining which shareholders qualify to receive shares from the demerged entity, Under the scheme of arrangement, Reliance Strategic Investments will allot one fully paid-up equity share of the face value of ₹10 each for every share of Reliance as of the record date.

After this demerger, there will value unlocking for Reliance Industries while its all financial business will move to Jio Financial Services Ltd, which owns 6.1 per cent stake in RIL. So, after the demerger, Jio Financial Services valuations