Jio Financial Services, the recently demerged unit of Reliance Industries, will retain its position within the FTSE indices, while earlier indications indicated an impending removal, a notification said on Friday (August 18). The decision was announced as the company gears up for its much-anticipated listing on Indian stock exchanges, on August 21.

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FTSE Russell, the global index manager, confirmed that Jio Financial Services will continue to be a part of the indices, with its existing share and investability weighting remaining unchanged.

The reconsideration of Jio Financial's inclusion followed a period of observation and analysis of its trading activity subsequent to its demerger on July 13. On Thursday (August 17), the index maker announced the removal of Jio Financials from the FTSE indices.

The original decision to remove Jio Financial Services from the FTSE indexes was influenced by lacklustre trading performance within the 20 business days following the completion of the demerger, according to an earlier statement of FTSE Russell.

(With inputs from Bloomberg)

First Published:Aug 18, 2023 11:09 PM IST