Zomato Share Price: The decline in the stock of food delivery company Zomato is not taking its name to stop. In Friday’s trading session, the stock of Zomato slipped below Rs 60 for the first time. Since the listing on the stock exchange of Zomato, the IPO has slipped by about 24 percent from the price. On Friday, the stock of Zomato fell by about 6 percent to a price of Rs 57.65. It is clear that investors investing in Zomato’s IPO are facing huge losses.
Market cap dropped near Rs 45000 crore
The market capitalization of Zomato company has come down to Rs 45,400 crore below 50,000 crores. The stock of Zomato has come down close to 65 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 88,000 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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