Jio Financial Services Ltd (JFSL), the demerged financial services arm of the Mukesh Ambani-led conglomerate Reliance Industries Ltd (RIL), will not be removed from FTSE indices and will also be added to the MSCI Global Standard Index.

Jio Financial will remain a part of the FTSE All-World index with an unchanged share issuance of 6,765,591,509 and an investability weighting of 49.66%, FTSE said. 

Jio Financial was also added to FTSE Global Large Cap and Emerging indices, while RIL continued to be part of these indices. The addition to the MSCI Global Index will come into effect from August 23.

FTSE Russell had earlier announced that Jio Financial Services would be removed from FTSE All-World Index, FTSE MPF All-World Index, FTSE Global Large Cap Index and FTSE Emerging Index, effective August 22, citing its failure to commence trading after 20 business days of being added to the index. This decision has been reversed. 

The decision came on Friday, hours after domestic stock exchanges, National Stock Exchange (NSE) and Bombay Stock Exchange (BSE), announced that JFSL will get listed on August 21.

A BSE notice read, “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.”