Ant-backed Zomato jumps 53% above offer price in India market debut

  • 7/23/2021
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BENGALURU (Reuters) - 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). ($1 = 74.5250 Indian rupees) Reporting by Chandini Monnappa and Anuron Kumar Mitra in Bengaluru; Editing by Arun Koyyur Our Standards: The Thomson Reuters Trust Principles.

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