Zomato IPO listing created a frenzy in the Indian stock market as the stock on listing got close to a 66% premium on the listing. The stock market debut turned Zomato Ltd. founder Deepinder Goyal into a poster boy for India’s fledgling startup scene, pushing his fortune close to the $1 billion mark.
Goyal is worth $650 million based on his current 4.7% stake in Zomato, according to the Bloomberg Billionaires Index. He also owns more than 368 million options that vest over the next six years, which if exercised would almost double his stake in the company, which now has a market capitalization of $13.3 billion.
“Today is a big day for us,” Goyal said in a blog posting on Friday. “But we couldn’t have gotten here without the incredible efforts of India’s entire internet ecosystem.”Deepinder Goyal of Zomata on successful IPO Debut
Zomato Founder Joins Byju Raveendran, Paytm and Flipkart Startup Unicorn club
Those topping $1 billion include Byju Raveendran of online education provider Byju’s, Vijay Shekhar Sharma of digital payments pioneer Paytm, and Sachin Bansal and Binny Bansal, cofounders of online retailer Flipkart.
India had a record $6.3 billion of funding and deals for technology startups in the second quarter, underscoring entrepreneurial ambitions and rising venture-capital interest in the world’s second-most populous market.