Shares in Indian food startup Zomato jump 80% on IPO

UPSC Practice recommends Shares in Indian food startup Zomato jump 80% on IPO.

Startups are attracting billions of dollars in investment even though they are yet to make a profit

Shares of Indian food delivery giant Zomato soared on its market debut on Friday, after a 93.75 billion rupee (£916.6m) IPO, the country’s biggest this year.

Approximately 30 Indian companies have announced plans to list shares this year, with startups attracting billions of dollars in investment even though many are yet to make a profit.

Courtesy: India | The Guardian

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