Ant-Backed Zomato's Stunning Markets Debut Sets Pace For Paytm, Oyo, Ola

Friday, 23 July 2021Newsdesk

Shares of food delivery firm Zomato Ltd nearly doubled on Friday in a stellar first listing of a local unicorn in India, setting the pace for a slew of such debuts by internet-based startups that are thriving during the COVID-19 pandemic.

New Delhi, 23 July 2021

As per news report of NDTV,Berkshire Hathaway Inc-backed Paytm, hospitality company Oyo Hotels and ride-hailing firm Ola, both backed by SoftBank, are among the Indian startups set to enter markets, riding on support from foreign funds and local investors. Shares of Zomato soared 82.8% after opening at ₹ 116 in pre-open trade, a 53% premium to the offer price of ₹ 76 for the ₹ 93.75 billion IPO, valuing the company at about $12 billion. China's Ant Group holds a 16.53% stake in Zomato, while its top shareholder is online technology company Info Edge (India), which holds a 18.55% stake.

Source -NDTV