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For first time in 22 years, DIIs own more Indian equities than FIIs – a major investor-base shift
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Indian DIIs now own more equities than FIIs for first time in 22 years, reflecting structural investor-base change.
As of March 2025, Domestic Institutional Investors (DIIs) in India held ~17.62 % of equity market capitalization, surpassing Foreign Institutional Investors (FIIs) for the first time in 22 years, according to new data. This marks a structural change in ownership dynamics of Indian stocks, signalling increasing reliance on domestic flows. The shift may limit vulnerability to global outflows but also raises questions around valuation and home-bias risk in portfolios.