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IPO

Zomato market debut ignites India's tech stock listing boom

B2B startups make compelling case ahead of IPOs amid strong investor appetite

People shop at a vegetable market in Ahmedabad, India on June 15.   © Reuters

TOKYO -- India's equity market appears headed for its first tech stock boom.

Shares of food delivery service startup Zomato listed on both the Bombay Stock Exchange and the National Stock Exchange on Friday. They opened at a 52.6% premium to their offer price, gaining a market valuation of about $12 billion as the company became the first Indian unicorn to go public.

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