Indian food delivery app Zomato has gone public as it is heading for a $1.2bn in an initial public offering (IPO).
Institutional investors raised $562.3m, as they bid for 35 times more shares than allotted ahead of the much-anticipated offering.
The public share sale for Zomato opened today and will close on Friday.
Founded in 2008, Zomato is currently operating in around 525 cities. Around 90 percent of the app’s revenue comes from the Indian market. It has become a household name in India.