Ant-Backed Zomato's Roaring India Debut Sets Pace For Internet Startups© gadgets.ndtv.com

Ant-Backed Zomato's Roaring India Debut Sets Pace For Internet Startups

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Indian food delivery firm Zomato surged 65.8 percent in its stock market debut on Friday, giving the startup a valuation of Rs. 98,849 crores ($13.28 billion) and setting the stage for other domestic startups that are waiting in the wings with listing plans of their own.

The 13-year-old company belongs to the first generation of big home grown startups in the country to go public successfully on Indian bourses.

"Zomato is definitely a big event for the startup community, and for the other technology companies that are waiting to come to the capital market," said Siddhartha Khemka, head of retail research, broking & distribution at Motilal Oswal Financial Services.