Zepto's Valuation Problem: When Public Markets Disagree With Private Investor | Markets Today #272

📌 In this episode of Markets Today — FPIs bought ₹15,412 crore in July after months of selling, India is reviewing its net neutrality rules for 5G network slicing, and Zepto's IPO is hitting a valuation wall with mutual funds divided.

#1 🌏 FPI U-Turn — Real Or Tactical? July FPI buying: ₹15,412 crore. But March selling was ₹1.17 lakh crore. AI trade rotation from Korea and Taiwan brought capital to India. DIIs bought ₹35,000 crore in July alone. FY26 DII total: ₹5 lakh crore vs FPI selling of ₹2.58 lakh crore. Indian market is less FPI-dependent than ever.

#2 📡 Net Neutrality Under Review India's 2018 rules being reconsidered for 5G network slicing. One network, multiple virtual lanes — cloud gaming, hospitals, autonomous vehicles get dedicated bandwidth. Airtel already launched a slicing service. Jio planning it too. Core principle stays but specialised services get exceptions.

#3 🛒 Zepto IPO — Valuation Crisis Targeted $7B valuation. Public market rejected it. Now aiming for ₹5,000 crore raise at lower valuation. One large mutual fund outright declined. Others worried about reputational risk if stock falls post-listing. Swiggy shares rising as markets price in Zepto weakness.