“FIIs overweight position in India in the EM funds is only 100 bps right now. At its peak, which is about 2016-2017, it was 500 bps. If that positioning changes over the next year or two, bulk of the money will come into the largecap name. Relatively speaking, some amount of gradual shift out of midcaps into largecaps, especially the midcaps which are looking frothy, needs to be done.”