India's IPO boom turns into $5bn cash-out for foreign retail parents; PhonePe, Coca-Cola, Carlsberg queue up

Foreign owners are using OFS-heavy Indian IPOs to repatriate nearly $5bn, with Walmart's PhonePe ($1bn), Coca-Cola's bottler, Carlsberg India and MTG India lining up. With 367 IPOs raising $21.8bn in 2025 and $26bn pending, the rupee is down 13% since 2024 as outflows mount.

Foreign owners are using OFS-heavy Indian IPOs to repatriate nearly $5bn, with Walmart's PhonePe ($1bn), Coca-Cola's bottler, Carlsberg India and MTG India lini

Times of India · Business · 6/4/2026, 3:46:08 PM · Ask about this →

PhonePe + Carlsberg India + Coca-Cola India + Hyundai Motor India + LG Electronics India + Nestle India + Niva Bupa +