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IPO afterglow masks a vanishing act

Business Standard

|

July 28, 2025

Behind listing glitter lies a hushed but heavy retreat of overseas money

- SAMIE MODAK

Foreign portfolio investors (FPIs) have taken a two-track approach this year: pulling money from listed equities while quietly investing in initial public offerings (IPOs) and other primary market deals like rights issues and qualified institutional placements. This has blurred the true extent of their selling in domestic markets so far.

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