Shares of Jio Financial Services will be included in Nifty 50 on July 20, NSE gave information

Jio Financial Services Share: July 20 is a big day for the investors of Reliance Industries. The National Stock Exchange (NSE) has informed that it will organize a special pre-open session for the shares of Reliance Industries on 20 July. The financial services business of Reliance Industries will be demerged on the same day. NSE has announced that a special session will be organized in the capital market segment to separate RIL’s financial services business Reliance Strategic Investment.

Record date is 20 July

Reliance Industries has fixed July 20 as the record date for allotment of shares of its demerged entity Reliance Strategic Investment to eligible shareholders. Under this demerger, the shareholders of RIL will be given one share of its demerged entity Reliance Strategic Investment for one share of Reliance Industries. Reliance Strategic Investments or RSIL will be renamed as Jio Financial Services and its shares will be listed on the stock exchange.

NCLT had given approval

A major step towards the listing of Jio Financial Services Limited on the stock exchange was seen when on July 7, the NCLT approved the demerger of digital financial services company Jio Financial Services Limited from Reliance Industries.

Jio Financial Services will be included in many indices

This separate entity, which will be known as Jio Financial Services, will be included in the Nifty 50. Apart from this, along with Nifty 100, Nifty 200, Nifty 500 index, it will be included in 18 other sectoral indices. It will also be included in Nifty Energy and Nifty Oil & Gas Index. NSE has said in a release that the demerged unit will be included in Nifty 50 and some other indices for a short time period till it is officially listed on the stock exchanges.

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