Primary Market Investment Surges as FPIs Shift Focus from Secondary Market

Foreign portfolio investors (FPIs) invested $14.5 billion in India's primary market in 2024, primarily through initial public offerings (IPOs) and qualified institutional placements (QIPs), while pulling out $14.37 billion from the secondary market, netting $124 million, according to National Securities Depository Limited (NSDL). 90 IPOs raised over $19 billion during the year, making the primary market an attractive investment route. Over the past decade, FPIs allocated $61.43 billion to India's primary market, with 41% invested in the last three years.