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Indian tech unicorns, such as the online food delivery company Zomato, are bringing about a turning point in the IPO scene in India. (Source photo by AFP/Jiji)
Business Spotlight

Zomato IPO shows foreign investors fueling India's tech battle

Stock market frenzy despite intense competition among cash-burning rivals

WATARU SUZUKI and RYOSUKE HANADA, Nikkei staff writers | India

TOKYO -- A list of 186 "anchor investors" that bought into Zomato's initial public offering is a symbol of India's stock market frenzy.

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