FTSE to delete Nuvama Wealth from Global Smallcap Index from July 5; here’s why

Nuvama Wealth Management will be removed from the FTSE Global Smallcap index, according to FTSE Russell. The company, which recently demerged from Edelweiss Financial Services, has not started trading on the stock market yet. Therefore, the global index aggregator made the decision to remove Nuvama from the smallcap index. Nuvama aims to triple its client assets and base by 2028 and expand its presence in more cities and offshore markets.