Zomato IPO is a triumph not just for 36-year-old Deepinder Goyal, but also scores of Indian entrepreneurs. With the 66% stock jump, Goyal is now worth $650 million, based on his 4.7% stake.
Compared with the IPO price of Rs 76, Zomato surges in its trading debut Friday. This is a boon for China's Ant Group, which is benefiting from its early investments in Indian companies, including Zomato and Paytm.
Zomato has generated a seldom-seen frenzy among the investment community. Investors will now get a taste of the food delivery giant when it debuts today after a $1.3 billion IPO.
About 53 per cent of respondents from these Hindi-speaking states knew what Zomato is, which is significant. But it is well below the awareness for Paytm.
Swiggy said it will use the funds to accelerate growth in food delivery and invest in its instant grocery delivery service Instamart, pick-up-and-drop service Genie and Supr Daily.
With China's crackdown on internet companies and India’s 625 million internet users just dipping their toes into the world of social networking & ecommerce, investors are turning their attention to India.
The broader buzz around Zomato, which has a $1.3 billion initial public offering, spilled out from financial circles into the social media space & could push other startups to list.
Shareholders would like to see Zomato pull off smart acquisitions that bring in both scale and cash flows. Dominance of consumer data alone won’t build a sustainable moat.
ThePrint had previously reported that India & Russia are talking about 5 more regiments of the S-400, but no contracts are to be signed during the Russian president's visit.
The India-South Africa series-defining fact is the catastrophic decline of Indian red ball cricket where a visiting team can mock us with the 'grovel' word.
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