FPI Leviathan Rises: Primary markets unleash kraken of investment in 2024

Unshackling animal spirits: A record Rs 1.1 trillion in foreign flows via IPOs, QIPs, and rights issues

Investments by foreign portfolio investors (FPIs) have fluctuated throughout the year, remaining negative for five of the 12 months in 2024. By the end of November, year-to-date (YTD) FPI investments had turned negative. However, with a recent revival in foreign flows, 2024 could still mark the second consecutive year of positive FPI investment.

  As of now, YTD FPI flows stand at Rs 25,444 crore. Foreign investments in the primary markets — mainly through initial public offerings, qualified institutional placements, and rights issues — have reached a record Rs 1.1 trillion.

  The previous record for FPI investments in the