Investments in Indian capital through participatory notes (P-notes) rose to Rs 95,501 crore till December end, according to Securities and Exchange Board of India data.
P-notes are issued by registered foreign portfolio investors (FPIs) to overseas investors who wish to be a part of the Indian stock market without registering themselves directly.
Investment level was at Rs 1.02 lakh crore in October end, which was the highest since March 2018, when P-notes had invested to the tune of Rs 1.06 lakh crore.
Abhay Agarwal, Founder and Fund Manager, Piper Serica, a Sebi-registered PMS, stated thatP-notes data for December suggest a flattish trend. It suggests equity inflows of about Rs 675 crore and debt inflows of about Rs 716 crore.
Out of the total Rs 95,501 crore invested through the route till December 2021, Rs 84,948 crore was invested in equities, Rs 10,322 crore in debt, Rs 231 crore in hybrid securities.
Sonam Srivastava, founder, Wright Research, Sebi-RIA added that P-notes participation is near the minimum level in six months for equities but has seen an uptick in the debt side.
(With inputs from PTI)
