Hi loveesh,

Floating: Candidates  accept  the  offered  seat  and  indicate  that,  if admission  to  an  academic  program  of  better/higher  preference  in  any Institute  is  offered,  they  will  accept  it.  Else,  they  will  continue  with  the currently accepted academic program. Such candidates will be considered in subsequent rounds of admission.

So , your seat will not be canceled .

all the best