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

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.