New Delhi: 30 years after IT giant Infosys's huge success in the domestic market, food delivery company Zomato has shown Indian entrepreneurship a great new path by raising flags in IPO listings. On Friday, the stock market Zomato with a 53 percent premium and went up to Rs 115 in front of a price IPO Rs 76.

Its stock moved to Rs 138 shortly after it was listed on the Bombay Stock Exchange (BSE). It finally closed at Rs 126 at the time of the market closure. Thus, the market value of the company has gone up to Rs 98,732 crores, far ahead of Tata Motor, Mahindra & Mahindra, and Coal India. The Zomato's spectacular presence in the stock market proved false to Dalal Street pundits who had barely estimated Jomato's IPO valuation at Rs 60,000 crores. The loss-making company had then projected a 25 to 30 percent increase in IPO.

But on July 16, on the third and final day of the IPO, 38 times more bids surprised everyone. Kotak Mahindra Capital Company MD and CEO S Ramesh said the strong presence of Zomato in the market proves that investors nowadays want to place their bets on a new-age technology company. He said that the way internet access is increasing and the way people are getting smartphones month after month, a new digital environment of money generation is being created and it will further strengthen our capital market in the coming days.

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