Zomato's Initial Public Offer (IPO) is set to open this week on July 14 and big t ticket customers such as Life India Corporation (LIC) are already looking to order in. Reports indicate the LIC may bid for Zomato’s shares in the online food delivery platform’s IPO this week to get a bite into the new economy.
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Sources told The Mint that LIC in interested as "Zomato’s growth curve demonstrates how rapid India’s transition to the internet economy has been" LIC traditionally has not bought into any IPO that was not backed by the Govt divestment programme.
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Zomato is the first of a bunch of Indian consumer internet unicorns that will go public in the next few months.