New Delhi, May 4 -- While 2026 appears to be a lacklustre year for IPO activity, with only a handful of listings so far, Foreign Portfolio Investors (FPIs) have remained steady participants in the primary market-even as they continue to be persistent sellers in the secondary market.

Based on NSDL data, FPIs invested a total of Rs.12,339 crore in the primary market between January and April. Monthly flows remained relatively consistent, with investments of Rs.2,778 crore in January, Rs.2,832 crore in February, and a peak of Rs.4,408 crore in March, before moderating to Rs.2,319 crore in April.

Conversely, the total foreign portfolio investment outflows from India for 2026, to date, have reached a significant Rs.191,968 crores. Experts be...