The Success of India’s First Unicorn IPO

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Zomato, a food delivery, restaurant finder and review app, has grown to be one of the largest food-tech companies in India. Shares were opened for sale to the public earlier this week, on July 14th, which each share priced between 72-76 Indian National Rupees. The IPO was fully subscribed within day one of the sale.

Upcoming companies and start-ups are now looking to Zomato’s fundraising journey and marketing tactics for a model to mimic. The company has brilliantly bounced back from a huge dip in business in 2015, and went on to become India’s first company with a valuation of over a Billion dollars.



With an IPO size of 90 Million, an over 10 Million growth since it registered preliminary documents with a market regulator, Zomato has become arguably the most ambitious food-tech giant in India.

However, it does face some competition, especially from Swiggy, another food delivery app with over 2.5 Million downloads.

Sources:

https://indianexpress.com/article/business/market/zomato-ipo-everything-you-need-to-know-7402280/
https://www.livemint.com/market/ipo/zomato-ipo-subscription-latest-gmp-share-allocation-and-listing-date-details-11626157342966.html

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