New Delhi, April 23 -- The stake held by public shareholders in Indian listed companies has, for the first time in over a decade, surpassed that of promoters, marking a structural shift in equity ownership even as the March quarter remained volatile amid the West Asia conflict, elevated crude prices and persistent foreign fund outflows.

The crossover marks a break from the long-standing promoter-dominated structure and highlights the rising influence of domestic institutions and retail investors.

A Mint analysis of shareholding data from the Centre for Monitoring Indian Economy (CMIE), covering 3,392 listed companies, shows public ownership-comprising mutual funds, retail investors and foreign portfolio investors-rose to a record 50.01%...