India Zomato: Shares of food delivery app soar on market debut

AndronETalksNews
BBC News
July 23, 2021
Shares in Indian food delivery app Zomato surged 65.8% in its stock market debut on Friday.
The listing was pushed forward by four days and comes as India’s stock market nears all-time highs.
The stellar performance reflected strong investor interest in internet-based start-ups that have done well during the pandemic.
In the run up to the listing some analysts raised concerns about the high valuation of the loss-making business.
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