Triveni Engineering demerger adjustment in NSE indices, Laser Power included in Nifty IPO Index
Two changes will be implemented in India's equity index framework from July 22, 2026, including a special adjustment related to the demerger of Triveni Engineering & Industries Ltd. and a new inclusion in the Nifty IPO Index. This move adjusts for the impact of corporate actions in the capital market segment under NSE's index calculation rules and also changes the composition of the IPO index.
Highlights
- A special pre-open session will be held on July 22, 2026, due to the demerger of the power transmission business of Triveni Engineering & Industries Ltd.
- Triveni Power Transmission Ltd. will be included in the Nifty Microcap 250, Nifty Smallcap 500, Nifty Sugar & Ethanol, and Nifty Total Market from July 22, 2026, with the symbol DUMMYTRVN and at zero value.
- It has been decided to add Laser Power & Infra Ltd. to the Nifty IPO Index from July 22, 2026, while no company is being excluded in this review.
This article was translated from the original. Read the original version by our correspondent here.
Demergers Adjustment and Effective Timeline
According to the National Stock Exchange of India, a special pre-open session will be held for Triveni Engineering & Industries Ltd. in the capital market segment on July 22, 2026, under circular NSE/CML/75,242. This arrangement is due to the demerger of the company's power transmission business into Triveni Power Transmission Ltd.As per the index methodology, the demerged entity Triveni Power Transmission Ltd. will be included with the symbol DUMMYTRVN at zero value, without divisor adjustment, effective July 22, 2026, based on the closing price of July 21, 2026. This inclusion will be made in the Nifty Microcap 250, Nifty Smallcap 500, Nifty Sugar & Ethanol, and Nifty Total Market indices.
NSE has stated that detailed guidelines for managing corporate actions related to demergers are available in the Nifty index methodology document.
Laser Power Entry in IPO Index
The Index Maintenance Sub-Committee (Equity) of NSE Indices Limited has decided to include Laser Power & Infra Ltd. in the Nifty IPO Index. This change will also be effective from July 22, 2026, and will be considered applicable after the close of July 21, 2026.No company is being excluded from the index in this review. This changes the representation of newly listed companies in the IPO index, while the technical adjustment for the Triveni group demerger in the broad market indices is implemented on the same date.
Our previous report discussed the decision to include Kusumgar Ltd in the Nifty IPO Index, which was to be effective from July 21, 2026, and considered applicable after the market close on July 20, 2026. That update also mentioned that no company was excluded from the index in that review, and such inclusions can impact index-based investment products like derivatives, index funds, and ETFs.
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