With the blockbuster listing of food delivery startup Zomato on Friday, Sanjeev Bikhchandani, founder of Info Edge, the company that owns Naukri.com, made 1050x return on his investment in 11 years. Shares of Zomato, which were issued at Rs 76 in the initial public offer, closed 66% higher at Rs 126 apiece, commanding a market capitalisation of Rs 98,849 crore.

Worth mentioning here is that Info Edge, one of the earliest and biggest backers of Zomato, invested Rs 4.7 crore in the company in 2010 for around 18.5% stake. The company sold 2.32% stake or 4.93 crore shares through the IPO at Rs 76 and now holds around 15.23% in the company. This remaining stake of Info Edge is now valued at around Rs 15,000 crore.

Sanjeev Bikhchandani took to microblogging site Twitter to talk about the returns he made on his investment in Zomato 2010 to encourage others to support startups. “Here is the ultimate evidence why India should invest more behind its startups and in early stage VC funds,” Bikhchandani wrote on Twitter above a graph showing InfoEdge’s returns at various price points.

China’s Ant Group which is the second-biggest investor in Zomato, with 16.5% stake will see its shareholding be valued at around Rs 16,268 crore on the first day of listing. Ant Group has been diluting its shares in the Indian company since last year after the government came out with new foreign direct investment rules, curbing Chinese capital flowing into domestic companies.

The Gurugram-based company is the first homegrown startups in the country to go public successfully on Indian bourses. Analysts say Zomato’s listing is likely to encourage other startups to come out with IPOs. “Zomato is definitely a big event for the startup community, and for the other technology companies that are waiting to come to the capital market,” news agency Reuters quoted as saying Siddhartha Khemka, head of retail research, broking & distribution at Motilal Oswal Financial Services.