Glossary › Cap classification (Large / Mid / Small)
Cap classification (Large / Mid / Small)
AMFI's semi-annual ranking of every NSE/BSE-listed stock into Large Cap, Mid Cap, or Small Cap based on 6-month average market capitalisation.
Formula
Rank all listed stocks by 6-month average market cap across exchanges: Rank 1–100 → Large Cap Rank 101–250 → Mid Cap Rank 251+ → Small Cap
Intuition
SEBI's October 2017 circular standardised what 'large/mid/small' means for Indian mutual funds. AMFI publishes the list every six months (January and July). Funds in 'Large Cap', 'Mid Cap', 'Small Cap' or 'Large & Mid Cap' categories have to hold a minimum percentage of their portfolio in stocks of the respective bucket.
What to look for
There is no good or bad cap. Each segment has its own role: large caps for stability, small caps for growth potential at higher risk. Lens uses this list to show the look-through size mix of your portfolio and individual funds.
Caveats
The list is rebalanced semi-annually, so a stock can move between buckets — what is Mid Cap today may have been Small Cap last year. Stocks listed for less than 6 months, foreign holdings, REITs, and money-market instruments are not classified.