Reliance Cap to be removed from 11 S&P BSE indices

The BSE on Tuesday said Reli ance Capital will be dropped from 11 S&P BSE indices with effect from September 5 as the company is demerging its real estate lending business.

"Reliance Capital is demerging its real estate lending business, which will be later merged with Reliance Home Finance, an unlisted subsidiary of Reliance Capital," the exchange said.

Reliance Capital will be dropped from S&P BSE AllCap, S&P BSE Finance, S&P BSE LargeMidCap, S&P BSE MidCap, S&P BSE MidSmallCap, S&P BSE CARBONEX, S&P BSE Enhanced Value Index, S&P BSE 100, S&P BSE 200, S&P BSE 500, S&P BSE Sensex Next 50.

Reliance Capital on Monday had said that its shareholders will get a free share of Reliance Home Finance for each share of Reliance Capital held as on September 6.