Valuing growth

Start-up listings will open up opportunities

Food-delivery platform Zomato is the first digital start-up to opt for an initial public offer (IPO) in India. Many others are waiting in queue, including Paytm, Mobikwik, Delhivery, and Flipkart. The Zomato issue, which on Tuesday got an enthusiastic response from anchor investors comprising marquee foreign portfolio and domestic institutions, followed the Securities and Exchange Board of India's (Sebi) decision in March to remove several restrictive stipulations that hampered start-ups.The changes included reducing the mandatory holding period for pre-issue investors to one year (from two years) and allowing discretionary allotment to eligible investors. Up to 60 per cent of IPO