Zomato Share Price: In Tuesday’s trading session, there was a huge fall in the stock of food delivery company Zomato. The fall was such that Zomato Share Price fell by more than 10 percent and went down to around Rs 50 to Rs 50.05. After listing on the stock exchanges, the stock of Zomato has slipped by about 34.21 percent from its IPO price. Although the stock recovered slightly and closed at Rs 52.45.
Market cap at Rs 41,288 crore
The market capitalization of Zomato company has been reduced to Rs 41,288 crore. The stock of Zomato has slipped more than 70 percent from its highest level of Rs 169. That is, from its highest level, the market capitalization of Zomato has come down by close to Rs 92,000 crore. When Zomato’s stock was at Rs 169, its market cap was close to Rs 1.33 lakh crore.
IPO came in 2021
It is worth noting that in 2021, Zomato had raised Rs 9,375 crore from the market through IPO at Rs 76 per share. Zomato was listed on the stock exchange at a price of Rs 115. Institutional investors are continuously selling in Zomato’s stock. Domestic mutual funds have reduced their corporate stake from 2.82 per cent to 1.1 per cent. Foreign portfolio investors have also reduced their stake in Zomato, due to which the stock is under pressure.
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