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A second wave of COVID-19 infections in the country significantly impacted its dining-out business and reversed most of the gains the industry made in the previous quarter.
The Series H funding round also witnessed participation from Aroa Ventures, the family office of OYO Founder Ritesh Agarwal, and Deepinder Goyal, Co-Founder and CEO at Zomato.
The funding signals growing fascination for Indian content-sharing and short-video apps that have become popular ever since New Delhi last year banned ByteDance's TikTok and some other Chinese apps following an India-China border clash.
Paytm's IPO plan comes at a time when several first-generation homegrown startups in India prepare to go public on domestic bourses.
The stock made its debut at Rs 115, reflecting a huge gain of 51.31 per cent against the issue price on the BSE. It then hit a high of Rs 138, a jump of 81.57 per cent.
The Head Chef of Kuwait European Restaurant, Mithun’s culinary journey is worth documenting and emulating.
The IPO, which will give Zomato a valuation of Rs 64,365 crore, is being touted as the second-biggest since SBI Cards and Payment Services' Rs 10,341 crore issue in March 2020.
Earlier this week, Zomato had received markets regulator Sebi's go-ahead for the initial public offer.
The market has been on a non-stop rally, hitting new records almost every week, on the back of an influx of investors - a vast majority of them first-timers - coupled with a flood of liquidity.
The total number of unicorns worldwide is 708 with a valuation of $ 2319 billion. Chinese company Bytedance, the parent company of TikTok, is the most valuable startup in the world with a valuation of $140 billion.