Jio Financial to begin trading on Monday; how long will it be part of Nifty and Sensex?

economictimes.indiatimes.com:

Reliance Industries Ltd’s arm Jio Financial Services will begin trading from Monday. Following the demerger of the financial services business, the NSE and BSE added Jio Financial to key indices, including the Nifty 50 and Sensex on July 20. This was primarily to ensure price stability and limited volatility in RIL shares on account of the demerger exercise and was part of the revised methodology of the exchanges to treat demergers.

Stock exchanges conducted a special pre-open session in shares of RIL to derive the price of Jio Financial. The derived price of Jio Financial came to be Rs 261.85 per share and the stock remained a part of the indices at this constant value. With the official date of listing now announced, the dummy symbol created for Jio Financial will be replaced with an actual symbol, and the stock will remain part of the indices for a “temporary” period.

After trading commences on Monday, Jio Financial will be removed from all the indices after the close of trading on Thursday at the market-determined price. Jio Financial will be in a trade-for-trade segment for 10 trading days and will trade with the symbol of JIOFIN. Shares of the NBFC were credited to Demat accounts of eligible RIL shareholders last week in a 1:1 ratio, which means that for every RIL share held as of the record date of July 20, shareholders got one share of Jio Financial.