Jio Financial Services to be listed on stock exchanges on August 21
Reliance Industries Ltd (RIL), will be listed on Indian stock exchanges on August 21, Monday. “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. Jio Financial Services listing is scheduled just a day before FTSE Russell plans to drop the stock from its indices.
FTSE Russell had earlier said that it will remove Jio Financial Services from several FTSE Indices for failing to commence trading after 20 business days. A notice shared by the index services provider said that the company had also not announced a firm trading date since its inclusion on July 20 and the omission will come into effect from August 22. 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.
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