Zomato Share Price: On Monday, the price of a share of the Zomato Company fell to an all-time low of Rs 46. As of Monday at 12:18 p.m., the company’s shares are selling at a price of Rs. 47.90 a share.
Zomato, a meal delivery firm, had its shares drop as much as 14% on Monday due to a sluggish Indian stock market. The company’s pre-IPO shares’ lock-in period was over when the shares dropped to an all-time low.
Let us inform you that after one year, the lock-in period for the company’s promoters, employees, and any other shareholders who purchased shares prior to the company’s IPO on July 21, 2021, has expired. The company’s shares have experienced a significant sell-off following the conclusion of the lock-in period. The company’s shares decreased by 14% as a result.
The Zomato Company’s stock dropped to an all-time low of Rs. 46 per share on Monday. As of Monday at 12:18 p.m., the company’s shares are selling at a price of Rs. 47.90 a share. Data from the National Stock Exchange shows that as of Monday morning at 9:40 am, 4.81 crore shares of Zomato worth Rs 234.75 crore had been sold. 60.86 lakh equity shares worth Rs 29.74 crore were traded in the early session on the BSE at the same time.
As per SEBI regulations, the company’s pre-IPO shares are subject to a lock-in period of up to 12 months if there is no identifiable promoter. Only once this deadline has passed may these shares be sold.
It is important to note that 613 crores of the company’s shares have been locked in for the past year after the IPO of the Zomato Company was released on July 23, 2021. These shares make up around 78% of the company’s entire share capital.
Investors including Uber BV, Info Edge & Fin Singapore, and Ali Pay will now be allowed to sell their investment in Zomato when the lock-in period has expired. The data indicates that, even prior to the release of the IPO, the majority of these owners received shares of the company at a price of Rs 20 per share.
Let us inform you that Zomato, the nation’s top food delivery service, was founded in 2010. The company’s shares have so far lost 72 per cent of their value from their peak following the IPO. At Rs 169.10, the company’s stock has reached its all-time high. The company’s shares are currently selling 38 per cent below their Rs 76 issue price.
The company’s market capitalization as a whole was Rs 36,500 crore on Monday during trade, compared to Rs 1.33 lakh crore at the company’s high. The data shows that the decline in Zomato Company shares has cost investors an estimated Rs 96,600 crore so far.
Zomato drops 14% and reaches a record low as 613 crore share lock-in expires.
Delhi: As the pre-IPO share mandated lock-in period came to an end, the food delivery firm Zomato fell over 14% in the trading, setting new all-time lows.
After one year of the stock’s listing, on July 23, 2021, the promoter, employee, and other shareholder lock-in period that they were required to participate in came to an end.
Following this, Zomato’s stock fell to a record low of Rs 46. At 9.40 am, it was trading at Rs 46.6. The stock ended Friday’s trading session at Rs 53.65.
As of 9.40 am, 4.81 crore equity shares of Zomato worth Rs 234.75 crore have been traded, according to statistics from the National Stock Exchange (NSE). 60.86 lakh equity shares were traded on the BSE for a total of Rs 29.74 crore.