Zomato tanks 14%, hits new low as lock-in for pre-IPO investors ends

Shares of Zomato hit a record low of Rs 46 as the stock of the food-delivery platform company tumbled 14 per cent on the BSE in Monday’s intra-day trade as the lock-in period of pre-IPO ended. The stock has dipped below its previous low of Rs 50.35 touched on May 11, 2022.

With today’s fall, Zomato now trades 39 per cent below its issue price of Rs 76 per share. The stock had hit a record high of Rs 169.10 on November 16, 2021. Zomato made a stock market debut on July 23, 2021.

At 10:15 AM, Zomato