The latest outflow came after FPI investment in equities had hit a four-month low of Rs 12,262 crore in August. Before the outflow, FPIs were incessantly buying Indian equities in the last six months from March to August and brought in Rs 1.74 lakh crore during the period.
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“Since the issue size was large, it took away the possibility of the share price seeing any scarcity premium on the listing day,” said Mrunmayee