Zomato's $1.3 bn IPO to test appetite for India's new tech generation

Investors bragged on Twitter about snagging shares in the startup, yearning for the sort of returns Facebook Inc. and Alibaba Group Holding Ltd. generated

For over a decade, Deepinder Goyal’s Zomato Ltd. has delivered soul food from spicy dosa crepes to soft bread Pav Bhaji with curried vegetables to millions across India.

Now, investors get a taste of the fast-growing food delivery giant. The startup soared more than 80% in its Friday debut following a $1.3 billion initial public offering.

Zomato, the first of a generation of internet unicorns to tap India’s capital markets, has generated a seldom-seen frenzy among the local investment community. Investors bragged on Twitter about snagging shares in the startup, yearning for the sort of returns Facebook Inc. and Alibaba