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FPIs Sell Record ‘3 Lakh Crore in Secondary Market, Invest ‘55,000 Crore in IPOs
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Moneycontrol•01-10-2026, 15:41
FPIs Sell Record ‘3 Lakh Crore in Secondary Market, Invest ‘55,000 Crore in IPOs
- •Foreign portfolio investors (FPIs) have offloaded a record ‘3 lakh crore in secondary markets in 2026, while investing over ‘55,000 crore in India's primary market (IPOs) during the same period.
- •This trend of FPIs buying into primary markets and selling in secondary markets has persisted for the third consecutive year.
- •In 2024, net FPI flows into primary markets were ‘1.2 lakh crore, matching the ‘1.2 lakh crore selling in secondary markets.
- •FPIs also invested in India's debt markets, with net positive flows despite a ‘24,000 crore sale in secondary debt markets in 2025, offset by ‘32,000 crore in primary debt markets.
- •Experts note that IPOs offer FPIs better price discovery, valuation cushions, and access to sectors not well-represented in benchmark indices, though foreign investors tend to sell a significant portion of their anchor stock within a year.
Key Questions Answered
Foreign portfolio investors offloaded a record Rs 3 lakh crore in secondary markets while pouring over Rs 55,000 crore into India's primary market IPO story.
IPOs provide FPIs with sizeable allocations, better price discovery, and valuation cushions, offering a consistent pipeline of quality companies even when secondary-market valuations are high.
According to SEBI data over a three-year period, foreign investors sell about 3 percent of their anchor stock at the first unlock and roughly 60 percent within a year.
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