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Shares in Indian food delivery app Zomato surged 65.8% in its stock market debut on Friday.

The listing was pushed forward by four days and comes as India's stock market nears all-time highs.

The stellar performance reflected strong investor interest in internet-based start-ups that have done well during the pandemic.

In the run up to the listing some analysts raised concerns about the high valuation of the loss-making business.

Shares in the Ant Group backed app traded as high as 138.9 rupees each (£1.36; $1.87), valuing the company at about $12bn.

Zomato's share offering last week drew bids worth $46.3bn as it was more than 38 times oversubscribed, with big institutional investors also placing major bets. pg slot

Ahead of the stock market debut, Zomato's founder Deepinder Goyal tweeted "The future looks exciting. I don't know whether we will succeed or fail - we will surely, like always, give it our best."

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