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Startups

India's Zomato readies $1.1bn IPO amid COVID second wave

Food delivery unicorn's listing seen as catalyst for the country's start-ups

MUMBAI -- Indian food delivery startup Zomato is offering to sell shares worth 82.5 billion rupees ($1.1 billion) in a long-awaited initial public offering by one of the country's best-known tech "unicorns."

Zomato's domestic IPO plan will be closely watched by market participants and industry alike at a time when Indian startups have attracted a wave of fundraising interest. The plan comes as India grapples with a vicious second wave of the COVID-19 pandemic, plunging the country into crisis.

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