Shares of Indian food delivery firm Zomato Ltd opened at a 52.6% premium to their initial public offering price on Friday, in the country’s first stock market listing of a startup valued at more than $1 billion.
Shares opened at 116 rupees in pre-open trade compared to the offering price of 76 rupees. At the debut price, Zomato had a market valuation of 910.04 billion rupees ($12.21 billion).
