Now Reading: SEBI study: Anchor investors sell 50% of IPO holdings within a year
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SEBI study: Anchor investors sell 50% of IPO holdings within a year
Anchor investors sell half their IPO holdings within a year of listing, a new SEBI study of 242 mainboard IPOs listed between April 2022 and October 2025 has found. Aggregate weighted exit…
The Story in Brief
Anchor investors sell half their IPO holdings within a year of listing, a new SEBI study of 242 mainboard IPOs listed between April 2022 and October 2025 has found. Aggregate weighted exit rises from 3.5% at 30 days to 50.7% by T+365. The sharpest price pressure of minus 6% median comes around the 30-day unlock window.
Foreign portfolio investors lead selling, offloading 60% of their anchor allotment by one year, against mutual funds’ 38%. FPIs sold shares worth Rs 22,474 crore in absolute terms. The study, authored by Laltu Pore and Pampana Hari Nayak Akshay, also found smaller IPOs see higher exits, 72.5% for issues under Rs 250 crore versus 40.8% for those above Rs 1,000 crore.
The Indian Opinion
The narrative that IPO anchor investors are mere flippers gets partial support, but the data complicates it. Mutual funds, which hold 39% of anchor allotment, stick around far longer than FPIs. Blaming all anchors as short-term players ignores their varied behaviour. The real test will come if SEBI shortens lock-ins further, will mutual funds hold the line or join the exit?
Sources (2): thehindu.com, thehindubusinessline.com
This story was synthesised by AI from the 2 sources linked above.
Updated: this story now draws on 2 sources.
