The pricing at the higher end is about 70% above the price of ₹44.8 large private market investors paid in a $600 million funding round less than a year ago. Some other investors have made far greater returns, depending on when they first bought a stake in the firm. But while private market investors have made mouth-watering returns, public market investors may be coming to the scene a tad late. Zomato is listing more than 11 years after it was incorporated, as the private market provided more than sufficient capital for its growth. Michael Mauboussin and Dan Callahan of Counterpoint Global point out in a research report, “A consequence of staying private longer is that more wealth is created in the private market and less in the public market."

Source: Mint July 08, 2021 09:00 UTC