How did FPIs fare in July 2023?
July 2023 was huge for India's IPO scene—foreign investors (FPIs) put in ₹14,247 crore ($1.7 billion), the biggest jump in seven months, thanks to a rush of new stock listings.
But even with this IPO buzz, FPIs pulled out more money from the regular stock market than they put in, mostly because of global uncertainty.
That left India with an overall net outflow of ₹17,740 crore ($2.1 billion).
Thirteen IPOs hit the market in July
Thirteen IPOs hit the market in July, raising a record ₹16,127 crore—the highest monthly total this year and a clear sign companies are feeling confident.
Still, as FPIs withdrew ₹31,988 crore ($3.7 billion) from existing stocks and benchmark indices dropped over 3%, it shows that worries about global trade and politics are making investors cautious despite all the IPO excitement.