IPO update: Zomato

Zomato came out with its IPO about 10 weeks ago. Value Research's analysis of the IPO can be found here. This follow-up article focuses on the IPO's performance, post-IPO events, and changes in its valuation since then. Our analysis of the IPO Zomato is a pure-play technology platform company that connects customers, restaurant partners, and delivery partners. Zomato is a household name nowadays. However, many still don't know that the company is not just into food delivery. It has a presence over the entire food ecosystem with its B2C service 'Hyperpure,' which provides the restaurant partners with raw food materials. Its customers use the platform to search and discover restaurants, order food delivery, view, and upload photos, and make payments through its app. The company is backed by Info Edge, which is also the owner of Naukri.com. We gave a score of 15 out of 26 based on our IPO analysis. Our primary concern had been that the company incurred losses in the last three fiscal years and can continue to do so in the future. To grow its business and attract