The IWFs for each company in the index are determined based on the public shareholding of the companies as disclosed in the shareholding pattern submitted to the stock exchanges on quarterly basis.
The following categories are excluded from the free float factor where identifiable separately:
- Shareholding of promoter and promoter group
- Government holding in the capacity of strategic investor
- Shares held by promoters through ADR/GDRs.
- Strategic stakes by corporate bodies
- Investments under FDI category
- Equity held by associate/group companies (cross-holdings)
- Employee Welfare Trusts
- Shares under lock-in category
Eg. For XYZ Ltd.
|Shareholding of promoter and promoter group
|Government holding in the capacity of strategic investor
|Shares held by promoters through ADR/GDRs.
|Equity held by associate/group companies (cross-holdings)
|Employee Welfare Trusts
|Shares under lock-in category
IWF = [1,00,00,000 – (19,75,000 + 50,000 +2,50,000 +12,575 +1,45,987 +14,78,500)] / 1,00,00,000. =