Could the reason be because the promoter group holds 74.65% and, in addition, the CEO Ignatius Navil Noronha holds 1.96% stake under public shareholding, thereby the actual free float is only 23.39% which is less than the required 25%?
That CEO stake wonât come under free float?
and lmao, CNBC canât even figure that out if itâs true. Yeh log thoda toh research kar sakte hai
Yes, CEOâs stake doesnât come under free float. I just checked on NSE website: https://www.nseindia.com/get-quotes/equity?symbol=DMART
If you divide the values of Free Float Market Cap / Total Market Cap from the above URL, you will get approximately 23%.
As per NSE, the free float requirement is only 20%. So DMART actually qualifies for this criteria.
https://www.nseindia.com/products-services/equity-derivatives-selection-criteria
That 20% is the market-wide position limit (MWPL) requirement for open positions - which is completely unrelated to this discussion. It says the MWPL is set at 20% of the free float. So if a company has 30% free float, the MWPL would be 20% of that 30% which is equal to 6% of total market cap.
The free-float criteria for F&O inclusion has always been 25% of total market cap, which DMart does not satisfy. DMartâs current actual free float is around 23.3%.