Global banks like ‘Citi’ have downgraded their ratings on Indian equities from ‘overweight’ to ‘neutral’. Why? Valuations are high. Earnings may slowdown as compared to countries like China and Korea. In 2025 so far, FII’s have net offloaded approximately ₹1,94,209 crore ($22.20 billion) from Indian equities with the heaviest outflows from IT (over ₹50,000 crore) and FMCG. On the flip side, they’ve poured over ₹41,000 crore into telecom and financials, signalling selective long-term optimism.
Foreign portfolio investors (FPI) exhibited strong interest in the Indian primary market in July, reaching a 7-month high with $1.7 billion in net inflows, driven by a surge in IPO activity. In simple terms the next 5 years might not offer the same easy returns from regular stock market investing. So where could the smart money go next?
The answer might lie in IPOs, pre-IPO shares, unlisted shares, gold, AIFs, etc. With more companies planning to list, and unlisted shares still available at reasonable valuations, this space could be where real growth (and early entry) happens. When the secondary market cools down, new opportunities are often born elsewhere. And this might just be that moment.
So are you watching from the sidelines or stepping into the opportunity?