Future Tech
Ant-backed Zomato jumps 53% above offer price in India market debut
BENGALURU - Shares of Indian food delivery firm Zomato Ltd opened at a 52.6% premium to their initial public offering price on Friday, in the country's first stock market listing of a startup valued at more than $1 billion.
Shares opened at 116 rupees in pre-open trade compared to the offering price of 76 rupees. At the debut price, Zomato had a market valuation of 910.04 billion rupees ($12.21 billion).
- Reuters
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