'Zomato's stellar IPO to have positive impact on foodtech firms' valuation'

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

The blockbuster listing of online food delivery company Zomato is expected to set the stage for many food technology (foodtech) firms, including Swiggy, to follow suit. The stellar listing is expected to have a positive impact on their valuations if they plan to list or raise funds, said analysts and experts.

Zomato, the Gurugram-based company, is operating in a nascent industry. However, its Rs 9,375-crore maiden offering is now considered a test case for other foodtech start-ups planning to go public.

Zomato’s initial public offering (IPO) drew bids worth Rs 2.1 trillion - it was subscribed 40x. On Friday, the stock ended