Stock Market

Zomato share price: Today, the Stock Price reached a record Low

Zomato share price: Today marks the conclusion of a one-year lock-in period for 78% of the food chain platform’s paid-up capital.

Zomato share price

The one-year lock-in period for promoters, shareholders, workers, and others came to an end today, causing the Zomato share price to decline by almost 11% in early morning trades.

The entire paid up capital of the food chain platform is around 78%, and market analysts were anticipating pressure to sell off Zomato shares this week.

On July 23, 2021, Zomato Limited’s public offering was listed on the BSE and NSE.

Monday’s early morning trading saw Zomato shares begin lower and eventually surpass their all-time low of 50.05 per share.

Today, only a few minutes after the market began, they reached a new record low of 47.50.

Read These Articles Tool:

Expert Says on Zomato Share Price

Anuj Gupta, Vice President — Research at IIFL Securities, commented on the cause of the sell-off trigger in Zomato shares, stating, “Shares of Zomato were listed on Indian bourses on July 23, 2021, which means one year lock-in for promoters, company employees, founders of the company, etc. has ended today.

Early this morning, Zomato Limited owners sold their shares, making up 78% of the company’s paid-up capital.

On July 23, 2021, Zomato share price were introduced at a premium of more than 51%.

Following a successful IPO, Zomato share price went on to achieve a lifetime high of 169 rupees per share in November 2021, surpassing a $1 trillion market capitalization.

“Given that the stock was first sold for 76 cents per equity share in the primary markets around a year ago, the stock is anticipated to remain bearish’ preferred sell on increase for the short to medium term.

Therefore, following the expiration of the one-year lock-in period, Comapny shareholders—who account for about 78% of the company’s total paid-up capital—would seek to sell their shares whenever the stock rose, particularly when it approached the offered price of 76 rupees per share, according to Avinash Gorakshkar, Head of Research at Profitmart Securities.

Zomato share price, meanwhile, has been selling down since achieving its all-time high and just hit fresh 52-week lows.

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button