Ambani's Jio Financial, Deepinder Goyal-led Zomato to enter Nifty50 by the end of March

The National Stock Exchange (NSE) will add Mukesh Ambani’s Jio Financial Services and the Deepinder Goyal-led Zomato to its Nifty50 index effective March 28, 2025, according to a circular issued Feb. 21.

The two companies will replace Bharat Petroleum Corporation (BPCL) and Britannia Industries, which are set to exit the benchmark.

These changes follow the requirement that new entrants must have a six-month average free-float market capitalization of at least 1.5 times that of the smallest constituents in the Nifty50 universe. It will also apply to the Nifty50 Equal Weight index.

NSE shares note

“Zomato Ltd. (average free-float market capitalisation INR 1,69,837 Cr) and Jio Financial Services Ltd. (average free-float market capitalisation INR 1,04,387 Cr) have been included in Nifty 50 index… as the 6-month average free-float market capitalisation of these companies within eligible universe is at least 1.5 times the 6-month average free-float market capitalisation of the smallest constituents i.e. Bharat Petroleum Corporation Ltd. (average freefloat market capitalisation INR 60,928 Cr) and Britannia Industries Ltd. (average free-float market capitalisation INR 64,151 Cr),” the NSE’s note stated.

Changes in the Nifty Next 50 index

The reshuffle also affects the Nifty Next 50 index: both Zomato and Jio Financial will be removed, while archrival Swiggy—another online food-ordering platform—makes its debut in the Nifty Next 50, along with other newcomers in related indices.

As a result of these changes, major new-age tech firms such as Ola Electric, Paytm, PB Fintech, and Brainbees Solutions (the parent of FirstCry) will see different index placements, reflecting a broader shift as the NSE incorporates more consumer internet and EV companies into its benchmarks.

Zomato and JioFin's entry into Sensex

Zomato and Jio Financial were added to the BSE Sensex not long ago, a milestone for both firms in India’s capital markets. With the Nifty50 inclusion, Zomato further solidifies its position as a key player in the online food sector, while Jio Financial continues to showcase Reliance’s deepening footprint in the fintech arena.

The average free-float market cap for Zomato stands at about Rs 1.69 lakh crore, and for Jio Financial, around Rs 1.04 lakh crore—well above the thresholds for index eligibility.

Swiggy to enter Nifty 100

In parallel, Swiggy will enter key NSE indices such as the Nifty 100, Nifty India New Age Consumption, and Nifty India Digital. Ola Electric will make a foray into the Nifty Midcap 150, with Delhivery exiting that index. The roles reverse, however, for Nifty Smallcap 250, where EaseMyTrip has been removed, and Delhivery makes an entrance.

Also noteworthy is Paytm’s transition into the Nifty Midcap 50 and the Nifty Financial Services Ex-Bank, while PB Fintech joins the Nifty Midcap Select index. The logistics firm Delhivery, which is exiting Nifty 200 and Nifty LargeMidcap 250, will join the Nifty Smallcap 50 and 100. EV giant Ola Electric, meanwhile, appears in the Nifty EV & New Age Automotive index.