Zomato Plunges Over 14 Pc As Share Lock-In Period Comes To End

Bengaluru: Zomato share price on Monday tumbled by over 14.3 per cent to a record low, after a one-year lock-in period for promoters, employees and other investors came to an end following a 2021 listing. The food chain platform’s total paid up capital of the one year overhang is around 78 per cent.Also Read – No More Domino’s Pizza Delivery By Zomato, Swiggy? Here’s What Company Said

Zomato made a stellar debut on July 23, 2021 in the Mumbai market, but its shares have lost more than 60 per cent of their value since then, according to a report by news agency Reuters. Also Read – Jai-Veeru, Is That You? Swiggy Delivery Guy Helps His Zomato Counterpart, Unlikely Dosti Wins Hearts | Watch

The company’s shares opened downside in early morning deals on Monday and went on to breach its life-time low of Rs 50.05 a piece. The share price later made another record low of Rs 47.50 within few minutes of stock market’s opening bell today. Also Read – Viral Post: Mumbai Man Shares Food Order Bills From Zomato And Restaurant; Comparison Triggers Debate

Meanwhile, Indian equity benchmarks also plunged today after their longest winning run since last October as investors eyed policy cues from the upcoming RBI meetings.