India’s first generation tech startup ZOMATO launched its IPO at a price of Rs.72 to Rs.76 per equity share nearly a month ago. The dalal street buzz is not only attracting retail investors but mutual fund industries as well. After a month of the public offer the share price of ZOMATO is at a value of 149 inr .Giving it a marketcap of over 1.13 lakh crore
Ofcourse the credit of not just starting India’s first food delivering app but successfully competing with other much larger companies like UberEats and Swiggy goes to the founder and CEO Deepinder Goyal
Deepinder Goyal is now among India’s 1% after bumper listing. A 66% stock jump on debut turned Zomato Ltd. founder into poster boy for India’s fledgling startup scene, pushing his fortune close to the $1 billion mark.
However the Big Bull Rakesh Jhunjhunwala predicted that stocks are not going to be high even in bullish times like this. He mentioned that company’s cash flow lower than 30% may not sustain the value of its shares.
DuckDesk 