Definition of Free-float:

Share holdings held by investors that would not, in the normal course come into the open market for trading are treated as 'Controlling/ Strategic Holdings' and hence not included in free-float. In specific, the following categories of holding are generally excluded from the definition of Free-float:
*Holdings by founders/directors/ acquirers which has control element*Holdings by persons/ bodies with "Controlling Interest"*Government holding as promoter/acquirer*Holdings through the FDI Route*Strategic stakes by private corporate bodies/ individuals*Equity held by associate/group companies (cross-holdings)*Equity held by Employee Welfare Trusts*Locked-in shares and shares which would not be sold in the open market in normal course.
The remaining shareholders would fall under the Free-float category.