FPIs Shun Indian IPOs, Favor Follow‑Ons and Block Deals Amid High Valuations
Foreign portfolio investors are pulling back from Indian IPOs, preferring follow‑on offerings, QIPs and block trades, according to Kotak Investment Banking. The shift is driven by high equity valuations and the global AI boom diverting capital to tech giants, leaving Indian IT firms less attractive. Despite this, Kotak sees a strong IPO pipeline for the coming year.