{"id":9542,"date":"2022-07-25T15:47:45","date_gmt":"2022-07-25T10:17:45","guid":{"rendered":"https:\/\/www.tickertape.in\/blog\/?p=9542"},"modified":"2022-07-25T17:05:35","modified_gmt":"2022-07-25T11:35:35","slug":"zomato-hit-its-all-time-low","status":"publish","type":"post","link":"https:\/\/www.tickertape.in\/blog\/zomato-hit-its-all-time-low\/","title":{"rendered":"Zomato Tanks ~13% to Its All-Time Low. Here\u2019s Why!"},"content":{"rendered":"\n

Zomato<\/a> got off to a rocky start this week! Its shares plunged over 13% on the morning of 25 July 2022. The stock hit its all-time low as the mandatory lock-in period of one year for the pre-IPO shares ended. <\/p>\n\n\n\n

The mandatory lock-in period was for promoters, employees, and other shareholders<\/a> who had bought the stock before the IPO<\/a> ended on 23 July 2021. The one-year lock-in period ended on 23 July 2022, after the completion of one year of its listing.<\/p>\n\n\n\n

Following this, Zomato<\/a> shares opened in red in the early morning trade of Monday. It hit its all-time low of Rs. 46, bringing down the market cap to ~Rs. 36,484.70 cr. At its peak, the market cap was more than Rs. 1.25 lakh cr. It has wiped off Rs. 89,000 cr. worth of investor\u2019s wealth on a closing basis.<\/p>\n\n\n\n

According to the data from National Stock Exchange<\/a> (NSE<\/a>), 4.81 cr. equity<\/a> shares of Zomato worth Rs. 234.75 cr. had changed hands as of 9.40 AM on 25 July 2022. More than 613 cr. shares of Zomato were under lock-in period, which constitutes about 78% of the shareholding of the company.<\/p>\n\n\n\n

Zomato was one of the first unicorns to list last year. Its IPO<\/a> was a success. It was subscribed 38.25 times and made a terrific debut at a premium of 53%. However, at present, the share price of Zomato is ~ 70% down from its peak of Rs. 169 in November 2021. <\/p>\n\n\n\n

For the Q4 FY 2022, the company\u2019s net loss widened to Rs. 359 cr. while the income was up by 7.22% quarterly. The company\u2019s expenses for FY 2022 outweighed its revenue as compared to a year-ago period. Further, the shares tanked 14% after the company announced the acquisition of a quick commerce firm, Blinkit, in June 2022.<\/p>\n\n\n\n

The ride for Zomato seems to be going downhill, but will it make an upswing? Only time will tell.<\/p>\n","protected":false},"excerpt":{"rendered":"

Zomato hit its all-time low of Rs. 46, declining nearly 13% in one day. Here\u2019s the reason for the sharp decline.<\/p>\n","protected":false},"author":90,"featured_media":9543,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"_lmt_disableupdate":"no","_lmt_disable":"no","footnotes":""},"categories":[10,1744],"tags":[1589,1414,375],"acf":[],"modified_by":"Anjali Chourasiya","jetpack_featured_media_url":"https:\/\/www.tickertape.in\/blog\/wp-content\/uploads\/2022\/07\/05-1-1.png?wsr","_links":{"self":[{"href":"https:\/\/www.tickertape.in\/blog\/wp-json\/wp\/v2\/posts\/9542"}],"collection":[{"href":"https:\/\/www.tickertape.in\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.tickertape.in\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.tickertape.in\/blog\/wp-json\/wp\/v2\/users\/90"}],"replies":[{"embeddable":true,"href":"https:\/\/www.tickertape.in\/blog\/wp-json\/wp\/v2\/comments?post=9542"}],"version-history":[{"count":3,"href":"https:\/\/www.tickertape.in\/blog\/wp-json\/wp\/v2\/posts\/9542\/revisions"}],"predecessor-version":[{"id":9546,"href":"https:\/\/www.tickertape.in\/blog\/wp-json\/wp\/v2\/posts\/9542\/revisions\/9546"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.tickertape.in\/blog\/wp-json\/wp\/v2\/media\/9543"}],"wp:attachment":[{"href":"https:\/\/www.tickertape.in\/blog\/wp-json\/wp\/v2\/media?parent=9542"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.tickertape.in\/blog\/wp-json\/wp\/v2\/categories?post=9542"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.tickertape.in\/blog\/wp-json\/wp\/v2\/tags?post=9542"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}