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NSE's IISL to drop IIFL Holdings from several indices

Press Trust of India  |  New Delhi 

group firm Index Services and Products Ltd (IISL) today decided to drop IIFL Holdings Ltd from various indices from next week.

The move comes after IIFL Holdings demerged '5Paisa Undertaking' from IIFL Holdings Ltd (IIFL) into its fully-owned subsidiary 5Paisa Capital.

In a circular, IISL said that IIFL Holdings Ltd will be excluded from 500, Midcap 150 and MidSmallcap 400 indices.

These changes would become effective from June 23.

"The Index Maintenance Sub-Committee (IMSC) has decided to make the...Replacement of IIFL Holdings Ltd in various indices on account of scheme of arrangement for demerger of 5Paisa Undertaking from IIFL Holdings Ltd into 5Paisa Capital Ltd," the circular noted.

The exchange's group firm said that Sheela Foam Ltd would be included in the 500, MidSmallcap 400 and Smallcap 250 indices.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, June 15 2017. 20:28 IST