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Apart from Swiggy, Zomato's biggest competitor, Rebel Foods, Dunzo, Ola Foods will also be fancying their chances of a blockbuster listing or more private equity funding, say experts
In a blog post titled "Letter from Deepi," he said Zomato will not alter the firm's focus for short term profits at the cost of the long term success of the company
Market players say strong stock market debut will prompt VC and PE firms to back more domestic startups, apart from motivating more unicorns to resist the temptation to list in the US
On the first day, Zomato has broken into the club of top-50 listed companies in terms of market capitalisation in India
Stock now most expensive consumer and food company in India
The BSE MidCap and SmallCap indices, however, underperformed the benchmarks
The market capitalisation of the company touched Rs 1.08 trillion in intra-day trade today
Shares of Zomato Ltd nearly doubled on Friday in a stellar first listing of local unicorn in India, setting pace for a slew of such debuts by internet-based startups that are thriving during pandemic
Investors bragged on Twitter about snagging shares in the startup, yearning for the sort of returns Facebook Inc. and Alibaba Group Holding Ltd. generated
Zomato IPO has opened the doors for new-age tech businesses to tap primary markets. Paytm, PolicyBazaar and Mobikiwik are some other names gearing up to tap the primary maket
Forty-one companies, including RIL, JSW Steel, SBI Card, YES Bank and Federal Bank will report their quarterly numbers today
Major websites went down in what appeared to be a brief but widespread outage. The websites of Airbnb, AT&T, Costco and Delta showed error messages around midday Eastern time on Thursday. They seemed to be operating normally, however, by 12:45 pm. Akamai, a major behind-the-scenes internet network company, said the disruption lasted about an hour and that it was due to a software update in the system that directs browsers to websites. It said there was no cyberattack. The company said it was reviewing how it updates software to try to prevent outages in the future.
Fintech major Paytm had tweeted that "some Paytm services are affected due to global outage at Akamai".
Views follow a stellar response to India's first unicorn IPO by food delivery company Zomato, which was subscribed nearly 40 times
Zomato's listing was initially scheduled for July 27. However, investment banks managed to complete share allotment and listing formalities ahead of deadline
Overall, about half a million rejected on technical grounds
Internet infrastructure provider Akamai confirmed that it is experiencing a service disruption
Business Standard brings you the top news stories of the evening
In the grey market, Zomato shares are available at a premium of Rs 23, up Rs 2 from its GMP of Rs 21 yesterday