New Delhi, Sept. 28 -- With around 34 IPOs hitting the primary market in September and a couple more expected, foreign portfolio investors (FPIs) continued to deploy capital through the primary market. According to NSDL data, FPIs invested Rs.8,551 crore in IPOs through 25 September.

At the same time, FPIs continued to sell equities through stock exchanges. This divergence has taken their total equity selling through exchanges in 2026 to Rs.2,95,971 crore, while investments through the primary market during the same period stood at Rs.54,398 crore, according to NSDL data.

The shift in FPI flows became evident earlier this month after positive inflows in July and August. Equity outflows through exchanges stood at Rs.25,682 crore as of 25...