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After Zomato IPO, Can We Have a More Honest Discussion on Gig Labour? Public markets push listed entities towards greater accountability, a development that is needed for the labour force that powers Zomato and its competitors. A Zomato delivery person. Photo: Reuters Labour16 hours ago A little over a week ago, food logistics company Zomato made a dream debut on Indian stock exchanges. Its initial public offering worth Rs 9,375 crore was oversubscribed 38.25 times, and its shares had listing gains of over 70%, giving it a market capitalisation of over 1 lakh crore. Just weeks earlier, its primary competitor Swiggy raised Rs 9,300 crore from a clutch of private investors. Investors remain untroubled by the fact these food logistics companies (FLCs) have racked up astronomical losses since inception, secure in the belief that restaurant delivery services will grow to a $110 billion industry by 2025 (Zomato’s RHP, p. 26).

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