Zomato sinks 23% in two days; loses Rs 1-trillion m-cap from all-time high

Shares of Zomato hit a new low on slipping over 10 per cent for a second straight day after the one-year freeze on all its pre-IPO (initial public offering) shareholding ended.

The stock of the food delivery start-up touched an all-time low of Rs 41.40, down 13 per cent on the BSE in intra-day trade on Tuesday. In the past two trading days, it has plunged 23 per cent from a level of Rs 53.65 on Friday.

With the decline in last two days, Zomato now trades 46 per cent below its issue price of Rs 76 per