Billionaire investor Rakesh Jhunjhunwala recently spoke at Motilal Oswal AMC's Global Partner Summit about Zomato's recently-concluded IPO and said that he sees 20% upside but 60% downside potential for the company. "This is driven by discounting the next 15 years," he added. Zomato's ₹9,375 crore IPO from July 14-16 was subscribed over 40 times on the last day of subscription.